Gold prices stall near USD 4,365 as rising oil and Treasury yields revive inflation fears, pressuring bullish momentum.
Gold’s rebound has weakened as higher long-end US Treasury yields and rising oil prices reignite inflation concerns. The metal, last seen at USD 4,365, shows fading bullish momentum on daily charts, with the Relative Strength Index retreating from near overbought levels.
Recent gains in crude oil have shifted focus back to inflation risks, keeping longer-dated yields elevated despite reduced expectations for near-term Fed rate hikes. The USD remained steady, offering little support, leaving gold caught between a more accommodative Fed outlook and renewed pressure from yields and oil.
Strategists suggest gold may consolidate or pull back unless yields stabilize or investment demand strengthens. Without these catalysts, the rally could struggle to regain traction in the near term.