Gold Price Forecast: Gold Miners Look Bullish Despite Spiking Bond Yields - FXEmpire

AI desk brief

Bond-market stress is rising, with the MOVE Index at 104 and the 10-year Treasury yield breaking above 5.00% and its 2023 high, a combination that could pressure precious metals near term if yields keep climbing. Gold needs to hold above $4,200 and close back above $4,400 to confirm the pullback is over; silver needs a close above $67.50, while platinum must reclaim the $1,900 downtrend line to signal a bottom.

Despite the yield headwind, the piece remains constructive on the medium-term trend, arguing the current weakness is still a pause inside a larger bull market. Miners are highlighted as a key focus: GDX is described as forming a bull flag with a $135-$140 target on breakout, GDXJ targets $175, and SILJ could extend toward $40+ if it clears $31 decisively.