Gold Struggles Below $4,300 Amid Rising US Treasury Yields

Gold prices are struggling to stay above $4,300 as the US Dollar strengthens and Treasury yields rise to their highest level since 2007.

The 10-year US Treasury yield has reached 5% for the first time in over a decade, supporting demand for the Greenback and increasing the opportunity cost of holding Gold.

Despite this challenging backdrop, traders are cautious ahead of the Fed's monetary policy decision on Wednesday, which could signal a broader tightening cycle.

The US Federal Reserve has kept interest rates unchanged so far, but high oil prices are making it harder to bring inflation back to the central bank's 2% target.