Gold climbs above $4,100 as yields fall and tech stocks sell off
🟡 Spot gold gained around 1% on November 5, recovering above $4,100/oz after touching an intraday low near $4,057.
📉 The US 10-year Treasury yield fell six basis points to 4.829%, reducing the opportunity cost of holding gold and supporting its recovery.
🏦 The probability of a December Fed rate hike dropped from 82% to 66%. Markets scaled back tightening expectations, although a hike remained the more likely outcome.
📊 The Nasdaq 100 plunged nearly 5.9% while gold advanced. The divergence highlighted the metal’s defensive appeal as risk appetite weakened.
🔎 The next US jobs report will test rate expectations. Stronger-than-expected data could push yields higher, putting pressure on gold’s rally.
#GoldInsights $XAUT
🟡 Spot gold gained around 1% on November 5, recovering above $4,100/oz after touching an intraday low near $4,057.
📉 The US 10-year Treasury yield fell six basis points to 4.829%, reducing the opportunity cost of holding gold and supporting its recovery.
🏦 The probability of a December Fed rate hike dropped from 82% to 66%. Markets scaled back tightening expectations, although a hike remained the more likely outcome.
📊 The Nasdaq 100 plunged nearly 5.9% while gold advanced. The divergence highlighted the metal’s defensive appeal as risk appetite weakened.
🔎 The next US jobs report will test rate expectations. Stronger-than-expected data could push yields higher, putting pressure on gold’s rally.
#GoldInsights $XAUT
