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Gold declined as global yields rise amid geopolitical tension
Today’s markets analysis on
Gold came under renewed selling pressure on Monday as a broad rise in global bond yields weighed on the precious metal. Yields rose after tensions in the Middle East escalated over the weekend, pushing oil prices higher and stoking inflation concerns. This reinforced expectations of a more restrictive monetary policy.
In the United States, markets now price in two rate increases, up from a single hike earlier. The broadening expectation of tighter policy has kept yields elevated, placing selling pressure on gold.
Looking ahead, this week brings a packed schedule of data releases and central bank commentary that could influence policy expectations. In the US, the focus will be on inflation and labour market data, as well as several appearances by Federal Reserve officials, including Chair Kevin Warsh’s testimony.
A more cautious stance across major central banks could continue to weigh on gold, extending its recent downward trend. However, losses may be contained to some extent as central banks continue to add to their gold reserves, with lower prices potentially attracting further investment.
Zaid Barem / ymm
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