BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Gold Retreats Despite Middle East Conflict as Dollar Strength, Yield Surge Bite
Gold Retreats Despite Middle East Conflict as Dollar Strength, Yield Surge Bite
11
3
BTCCSquare news:
Gold is poised for its first weekly decline in over a month, shedding 3% despite escalating Middle East tensions. The precious metal’s traditional haven status is being overridden by a resurgent dollar and climbing Treasury yields.
The US currency’s 1.5% weekly gain—its strongest since October 2024—has made bullion more expensive for overseas buyers. Concurrently, benchmark yields have risen for four consecutive sessions, diminishing gold’s appeal as a non-interest-bearing asset.
Market recalibrations show traders now pricing just 35 basis points of Fed rate cuts for 2024, down sharply from 60 basis points last week. This hawkish repricing coincides with some investors liquidating gold positions to cover losses elsewhere.
By:
