Gold prices declined on Thursday. Rising interest rates, particularly in the United States, pressured the metal.
The precious metal, a non-yielding asset, struggles against higher-yielding bonds. As bond yields increase, they become more attractive to investors.
Traders are watching the 10-year U.S. Treasury yield. This key indicator is approaching 4.4%, posing a significant challenge for gold prices.
Gold failed to break above the 4600 level, an area that has acted as strong resistance. The market may consolidate around current levels, with a sustained rally needing a significant drop in U.S. yields.