The gold price steadied to start the week after climbing to a five-month peak last Friday. The precious metal has overcome higher Treasury yields and a solid US Dollar.
Treasury yields have eased from recent peaks but remain elevated with the benchmark 10-year bond trading at 5.02% last week, its highest yield since 2007. It consequently raced back down toward 4.80% and has seen whippy price action since.. In addition, perceived haven assets such as USD and gold have appreciated with the geopolitical situation in the Middle East assisting to undermine
US real yields have been on the march higher through 2023 and recently stretched to a 15-year peak at the 10-year part of the curve, trading above 2.60%.A combination of higher nominal yields and an easing of inflation expectations has boosted it in this latest surge.