XAU/USD eyes $4,100 support as $4,200 caps gains, 10-year yields above 5%
Gold (XAU/USD) has remained on the defensive over the past few weeks, struggling to find relief on both fundamental and technical grounds. The source does not report a specific percentage or dollar move for the period. The main fundamental headwind is the bond market. With 10-year US Treasury yields hovering above 5%, the opportunity cost of holding a non-yielding asset like gold is significant, which weighs on demand for the precious metal. On the technical side, $4,200 is acting as resistance and keeping bulls in check, while $4,100 is the support level in focus. For traders, the $4,100–$4,200 range frames the near-term technical picture. Treasury yields remain the key fundamental driver to monitor, since elevated yields continue to challenge gold's appeal relative to interest-bearing assets.
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