Gold Slumps Amid Bond Yield Surge But Analysts See Rebound Ahead

Gold prices fell for 9 straight days, the longest losing streak in 7 years, as bond yields surged. However, gold held near-term support levels.

Rising bond yields have created headwinds for gold by raising opportunity costs, but may peak soon as risks to economy grow.

Analysts see parallels to 1987 and 2008 when yields rose before recessions and gold eventually rebounded.

Central bank gold buying hit a 3-month high in August, signaling continued robust demand.

Gold has historically protected beer drinkers from rising costs during Oktoberfest, underscoring gold's role as a hedge.