Gold remains trapped below $4,200 with two-month lows of $4,110 in sight, as rising US yields continue to cap upside momentum for the precious metal.
Gold is currently struggling to maintain upward momentum, remaining confined within a narrow trading range below the $4,200 resistance level. The asset is under significant pressure as it hovers near its two-month low of $4,110, reflecting a lack of bullish conviction in the current market environment.
The upside for Gold is currently limited below the $4,200 level.
The asset is trading near its two-month low of $4,110.
Gold prices remain constrained below the $4,200 resistance level as persistent strength in US yields weighs on the metal. The asset continues to hover near two-month lows of $4,110, signaling a bearish short-term outlook for the commodity.
Gold is facing significant selling pressure due to elevated US yields, which reduce the appeal of non-yielding assets like bullion.