Gold price at risk of pullback to $4,215/oz as short-term momentum fades – World Gold Council

The World Gold Council says the Treasury Department and the Fed are sending mixed signals that, on balance, have been net negative for gold. Gold prices have retreated while bond yields have risen across global markets, tightening the opportunity cost of holding non-yielding gold. The net takeaway is a cautious near-term backdrop for gold as rates stay firm.