XAU/USD falls 0.7% to $4,490 after US Treasury yields recover from Wednesday’s losses, pressuring the precious metal.
Gold prices retreated 0.7% to $4,490 in European trading on Thursday, pulling back from an 11-week high of $4,527 reached earlier in the session. The decline follows a rebound in US Treasury yields, which recovered some of Wednesday’s losses and weighed on the non-yielding asset.
The precious metal had climbed to $4,527 before the correction, driven by earlier weakness in yields and broader market sentiment. Analysts noted that gold’s sensitivity to yield movements remains a key factor in its short-term price action.
No immediate market reaction was specified beyond the price movement.