Gold Prices Hold Despite Rising US Yields
Despite the rise in US Treasury bond yields and increasing interest rates, the price of gold remained above $4,000 per ounce. This reflects strong demand for the metal as a safe haven and hedging against geopolitical risks, rather than the traditional explanation tied to yield-dollar relationships. Strong demand is expected to continue, supported by central banks diversifying their reserves, especially as China’s purchases of gold continue to rise and expectations that the cycle of interest rate hikes will come to an end will further boost gold's gains in the future.
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