{"id":439177,"date":"2026-10-01T11:51:30","date_gmt":"2026-10-01T04:51:30","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-price-bounce-still-lacks-conviction-below-4200-as-treasury-yields-threaten-fresh-highs-439177\/"},"modified":"2026-10-01T11:51:30","modified_gmt":"2026-10-01T04:51:30","slug":"gold-price-bounce-still-lacks-conviction-below-4200-as-treasury-yields-threaten-fresh-highs","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-price-bounce-still-lacks-conviction-below-4200-as-treasury-yields-threaten-fresh-highs-439177\/","title":{"rendered":"Gold price bounce still lacks conviction below $4,200 as Treasury yields threaten fresh highs"},"content":{"rendered":"
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Gold is trading up 0.4% to $4,170 levels today and has\u00a0managed to steady itself somewhat this week. That being said,\u00a0I wouldn’t label the price action as being particularly convincing just yet.<\/p>\n

The bigger picture is still about what is happening in the bond market. Gold was hammered at the start of the week on Monday, falling by as much as 4% to around $4,110 as US Treasury yields surged and markets continued to wrestle with the prospect of rates staying higher for longer.<\/p>\n

And while the precious metal has since bounced back towards $4,200 overnight, Treasury yields aren’t exactly giving gold buyers much breathing room. 10-year yields remain close to multi-decade highs, hovering around 5.28% today after briefly testing the 5.30% region earlier. Even a softer US PCE price report<\/a> yesterday failed to deter the bond vigilantes, leaving the possibility of another push higher in yields firmly on the table.<\/p>\n

As a reminder,\u00a0higher yields raise the opportunity cost of holding a non-yielding asset like gold. So even if the selling pressure has eased a little, there is still a fairly obvious macro headwind hanging over the market.<\/p>\n

And the chart also tells a similar story.<\/p>\n

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On the daily chart, buyers have at least managed to defend the area around $4,100 to $4,120. That also coincides roughly with the 78.6 Fib retracement level of the July to August advance around $4,117.<\/p>\n

But after such a sharp drop, a bounce alone doesn’t necessarily tell us that the correction is over. And the hourly chart offers more clarity on the hesitation that we’re seeing in price action at the moment.<\/p>\n

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Gold tried to recover above $4,200 earlier this week but ran straight into its 100-hour moving average (red line) before being knocked back down. And while price is recovering from the lows earlier today, it remains below that same 100-hour moving average at around $4,191 currently.<\/p>\n

Until buyers can reclaim that level and hold above $4,200, I would still treat the latest move more as a consolidation after the selloff rather than the start of a more meaningful recovery.<\/p>\n

Above that, the 200-hour moving average (blue line) closer to $4,260 currently will come into play as the next level to watch.<\/p>\n

For now, the selling pressure in gold has stalled rather than decisively reversed. But as long as price remains below $4,200 and Treasury yields continue threatening fresh highs, buyers still have some work to do before this starts looking like a more convincing recovery.<\/p>\n

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This article was written by Justin Low at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Gold is trading up 0.4% to $4,170 levels today and has\u00a0managed to steady itself somewhat this week. That being said,\u00a0I wouldn’t label the price action as being particularly convincing just yet. The…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-439177","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=439177"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439177\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=439177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=439177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=439177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}