Posted 10/6/2023, 6:52:00 PM
Gold Prices Rebound Slightly But Remain Under Pressure as Bond Yields Rise
- Gold prices end 9-day losing streak but still down 1% for the week, hovering near lowest levels since March
- Jobs report beats expectations but wage growth disappoints, giving Fed room to pause rate hikes
- Long-term bond yields hitting multi-year highs remain biggest drag on gold
- Peak in yields could be near; next week's inflation data could support gold if benign
- While gold could still fall to $1800/oz, current levels look attractive for long-term buyers
