Gold Rally Capped as US 10-Year Yield Breaks 5.3%
The gold rally faced resistance as the U.S. 10-year Treasury yield broke above 5.3%, while the price of one don of gold in South Korea reached 787,000 won.
The global gold rally has faced resistance and was capped as the U.S. 10-year Treasury yield broke above the 5.3% mark, according to Biggo.
Yields Pressure Gold
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The rise in the U.S. 10-year yield to over 5.3% has acted as a headwind for the precious metal. Higher Treasury yields generally increase the opportunity cost of holding non-yielding assets like gold, dampening investor demand.
South Korean Pricing
In South Korea, the domestic price of gold reached 787,000 won per "don," a traditional local unit of measurement.
Key facts
- The U.S. 10-year Treasury yield broke above the 5.3% threshold.
- The surge in yields capped the upward momentum of the gold rally.
- The price of one don of gold in South Korea was recorded at 787,000 won.
Source: news.google.com
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