Gold price slips, rate fears and firm dollar cap rebound - Proactive Investors

AI desk brief

Gold slipped 0.2% to around $4,368/oz as expectations for further US rate rises and a firm dollar continued to cap the rebound, after earlier lows near $4,340. The metal remains below its 20-day EMA near $4,367, while US 10-year real yields at 2.63% are the highest in more than 20 years, underscoring the headwind from higher opportunity costs for non-yielding bullion.

Offsetting that, gold-backed ETF holdings have continued to recover and central-bank reserve diversification remains a longer-term support. Bernstein cut its 2030 gold forecast to $5,600/oz from $6,100, citing shifting rate expectations, but still sees official-sector demand underpinning prices even as real yields stay elevated.