Gold (XAUUSD) Price Forecast: Gold Breaks 50-Day MA Support as Yields Hit 2007 High - FXEmpire

AI desk brief

Gold is under pressure as U.S. yields surged to multi-decade highs and October hike odds jumped to 77.5% after strong PMI data. Spot gold was down 0.6% at $4,261.73, having broken below its 50-day moving average at $4,312.07; support is now $4,235.17/$4,230.51, with $3,996.06 cited as the next major downside target if that zone gives way.

The macro backdrop is the key driver: the 10-year Treasury yield hit 5.139%, the highest since July 2007, while the 30-year reached 5.438% and crude oil strength is reinforcing inflation concerns. Fed speakers Barr, Collins and Williams did not push back on the market’s hawkish repricing, leaving gold vulnerable unless upcoming jobless claims and housing data soften the rate outlook.