The U.S. Treasury Department recently completed auctions of 10-year and 30-year Treasury bonds. The 10-year bonds, totaling $42 billion, yielded a high 4.683%, the highest level since 2007. The 30-year bonds, totaling $25 billion, yielded a 5.126% yield, the highest level since 2001. These high yields reflect a decline in investor interest in U.S. Treasuries and largely reflect expectations of high U.S. inflation. Under these circumstances, investors are increasingly anticipating a tightening of monetary policy by the Federal Reserve, making interest rate hikes to curb inflation inevitable. This interest rate shift should suppress gold prices in the short term, and gold prices are likely to encounter significant resistance around $4,392.

Gold prices are likely to fluctuate between $4,309 and $4,392 in the short term. Pay close attention to potential entry opportunities at the lower end of this range, as there is short-term upside potential. $4,289 can serve as a key support/resistance level; please manage your risk accordingly.

Risk Warning: This article is for market analysis purposes only. Price ranges and levels mentioned are for reference only and do not constitute investment advice. Precious metal prices are highly volatile; please make independent and prudent decisions and manage your own risk.

Gold Price 1-Hour Chart:

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com