Institution: Gold struggles to break through $4,000, with strong U.S. Treasury yields acting as a headwind

Deep Tide TechFlow News: On November 6th, Investing.com analyst Justin Low stated that after a sell-off on Tuesday, spot gold prices have gradually rebounded to the $3,980–$3,990 range. However, current price momentum still seems insufficient to challenge the psychological $4,000 level. From a macro perspective, key developments in the bond market this week warrant close attention. The 10-year U.S. Treasury yield surged to 4.16% yesterday, hitting a one-month high. If the yield continues to climb toward 4.21%, it could further strengthen the dollar, putting pressure on gold market sentiment.

The bond market is clearly moving away from an isolated trend. Recently, slightly better-than-expected economic data from the U.S. private sector may influence the Federal Reserve’s December decision. Currently, traders are pricing in about a 61% chance of a 25 basis point rate cut in December, but this is not a certainty. Any adjustments to market expectations regarding rate cuts could have a significant impact on gold in the coming weeks.

Moreover, we are approaching the traditional seasonal bullish period for precious metals from December through January.