Gold Holds Above $4,000 Amid Rising Yields and Demand

Gold prices have taken a hit, dropping around 4% as higher U.S. Treasury yields put pressure on the precious metal. Despite this decline, the sell-off has been cushioned by strong central bank buying and ongoing safe-haven demand, keeping bullion firmly above the $4,000 mark.

Nere Emiko, Vice Chair of Kian Smith Refinery, discussed the production and pricing dynamics shaping the minerals market on CNBC Africa. The conversation highlighted how these factors are influencing gold's current price movements.

The $4,000 level appears to be a new battleground for gold, with conflicting forces of rising yields and persistent demand creating a volatile environment for the metal.