Gold prices rebounded today as traders maintained a bullish outlook, despite the metal’s recent struggles to break past the $2,000 psychological threshold. After consolidating its sharp 7% rise earlier in October, gold remained under pressure from rising U.S. bond yields, which typically weigh on non-yielding assets like gold. However, the metal continues to find support from ongoing concerns over inflation and global economic uncertainties .
The rebound was driven by renewed safe-haven demand, as market participants hedge against potential economic downturns and uncertainties surrounding central bank policies. Despite the stronger U.S. dollar, gold’s allure as a store of value remains intact, especially as traders anticipate potential shifts in the Federal Reserve’s interest rate trajectory in response to slowing economic data .
If yields continue to rise, gold might face further resistance, but many analysts believe the metal’s long-term outlook remains favorable due to inflationary pressures and geopolitical risks.
