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Gold Cracks Key Support as Rising US Yields Siphon Off Demand

Guavy AI Editorial Team Published September 28, 2026

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Oil Gold

The price of gold has broken key support levels as rising US yields have sapped demand for the precious metal.

XAU/USD is down 1.3% on Monday, with longer-dated US yields surging to multi-year highs over the weekend.

This was driven by upbeat economic data and inflation concerns, which boosted expectations of a Fed rate hike.

Higher oil prices also weighed on gold, as US crude rose 1.3% in Asia following Trump's rejection of an Iran peace plan.

The Wire

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