Gold Slips Below $4,300 as Treasury Yields Rise and Fed Hopes for Rate Hikes

Gold prices faced another challenging week, falling below $4,300 per ounce as Treasury yields rose and hawkish Federal Reserve expectations kept traders focused on potential rate hikes.

The metal began the week at $4,383.44 per ounce but quickly lost ground as a rally in equities, higher yields, and a firmer dollar reduced demand for safe-haven assets.

Gold attempted to stabilize midweek but was met with hawkish Fed commentary and sticky inflation concerns, keeping traders on edge.

The selling accelerated Wednesday and Thursday as Treasury yields continued to rise, breaking through the $4,300 level and setting a weekly low of $4,244.63 per ounce.

However, gold recovered modestly on Friday as oil prices eased on renewed hopes for a U.S.-Iran deal, but the rebound was capped by elevated rate-hike expectations.

The latest Kitco News Weekly Gold Survey showed Wall Street with no clear conviction on gold's near-term direction, while Main Street maintained its bullish majority despite gold's weak weekly performance.