Gold braces for volatility amid recovery in bond yields, higher oil prices - Mitrade

AI desk brief

Gold is trading flat around $4,140 after spending nearly three weeks in a tight $4,063.55-$4,227.53 range, with gains capped by higher oil prices and a rebound in U.S. Treasury yields. The article flags 10-year yields at about 5.15% and says higher yields are weighing on non-yielding gold, even as geopolitical risk in the Middle East continues to provide some support.

Near term, the technical picture remains cautious: XAU/USD is below the 20-day EMA at $4,186.57, with RSI at 43.66 and downside risk toward the psychological $4,000 level. A daily close back above $4,186.57 would be needed to ease pressure and reopen $4,300.