Gold Holds Support as Bond Yields Surge, But Further Volatility Likely

Bond yields are rising sharply, with 30-year yields at 5% and 10-year yields around 4.8%, creating a market environment similar to past recessions.

Gold is holding initial support above $1,830 despite selling pressure, remaining resilient as long-term yields rise.

Analysts say bond yields may be near a peak as the U.S. economy shows signs of cooling, which could be bullish for gold.

While gold could be an attractive buy near lows, a cautious approach may be warranted as yields could still move higher.

If yields remain high, there is a possibility gold could fall to the low $1,700s, but stagflation and Fed balance sheet growth would be bullish.