XAU/USD retreats from $4,430 resistance amid rising US yields and Middle East tensions lifting the USD.
Gold (XAU/USD) fell below $4,400 in European trading on Tuesday, pressured by a surge in US Treasury yields and a stronger US Dollar. The 10-year yield climbed to a one-year high above 4.7%, while the 30-year yield reached 19-year peaks near 5.3%, weighing on non-yielding assets like gold.
The metal had earlier tested $4,430 but failed to sustain gains, remaining above last week’s low of $4,315. Geopolitical risks, including stalled Middle East peace talks and escalating US-Iran tensions, supported the safe-haven USD, further capping gold’s upside.
Technical indicators suggest bullish momentum persists, with resistance at $4,450 and a key hurdle near $4,500. Support lies at $4,315, with downside risks if yields continue rising.