XAU/USD falls 0.33% to $4,509 as US yields recover and the dollar index rises 0.14% to 98.91.
Gold prices retreated 0.33% to $4,509 on Thursday as US Treasury yields trimmed Wednesday’s losses and the US Dollar Index climbed 0.14% to 98.91. The pullback followed a sharp 4.35% rally earlier in the week, driven by Treasury’s bond buyback adjustments targeting 10- to 30-year bonds.
The XAU/USD pair remains above $4,500 despite pressure from stronger-than-expected US jobless claims data. Initial claims fell to 206K for the week ending August 15, below the expected 210K, while the 4-week moving average rose by 5K to 204K. The 200-day SMA at $4,512 now acts as near-term support.
Traders interpreted the Treasury’s move as a form of Yield Curve Control, aiming to stabilize long-term yields. Fed officials’ comments added caution, though gold’s bullish bias persists amid mixed economic signals.