Gold Bounces Back 1.62% Amid Renewed Demand and Soaring Treasury Yields

Gold prices staged a strong recovery on September 29, rebounding from recent weakness as prices stabilized near multi-week lows. The precious metal gained 1.62% for the day to close at $4,182.24 per ounce. Aetram India Research observed that the recovery reflected renewed demand at lower levels, although elevated U.S. Treasury yields and expectations surrounding Federal Reserve policy continued to restrict broader momentum.

The U.S. 10-year Treasury yield closed near 5.255%, after reaching 5.293% during the session. MCX Gold also strengthened, closing at ₹149,712 compared with the previous close of ₹146,513, representing a 2.18% rise.

Aetram Research noted that gold's rebound followed the sharp decline seen earlier, when rising Treasury yields and expectations of further U.S. monetary tightening had increased pressure on non-yielding assets. The recovery indicates buying interest emerging around lower price zones, but movements in Treasury yields, the U.S. dollar, and upcoming inflation data remain important factors for the precious-metals outlook.