Gold Prices Stabilize Amid Fed Hike, Treasury Yield Pressures

Gold prices hovered around $4,300 on Thursday as investors weighed the impact of the Federal Reserve's first rate hike in over three years. The 10-year Treasury yield remained near 5%, while the US dollar reached a seven-week high.

The Fed decision and rising Treasury yields put pressure on gold, but the price recovered from its six-week low. According to the source, whether Treasury yields extend their rise or retreat will determine the next move in gold.