Gold prices declined on October 13 due to a significant surge in US Treasury yields as markets awaited CPI data to assess interest rate paths. However, gold rebounded firmly by October 15 following reports of China purchasing US Treasuries. This buying activity caused yields to drop, which boosted the appeal of non-yielding gold.
Gold prices (XAU/USD) recovered firmly following reports of Chinese institutional buying in the US Treasury market, which triggered a sharp decline in yields and boosted the metal's appeal.
Read the full storyGold faces pressure from rising Treasury yields as markets await US Consumer Price Index data to gauge the Federal Reserve's future interest rate path.
