Gold hovers near $4,400 as bond yields hit multi-year highs

Gold traded near $4,400 an ounce on Wednesday after falling nearly 2% in the previous session, as elevated global bond yields pressured the non-yielding metal. US 10-year and 30-year Treasury yields climbed to multi-year highs amid persistent inflation and fiscal concerns, increasing the opportunity cost of holding gold. Rising oil prices and continued US-Iran tensions added further pressure, while a softer dollar offered limited relief. MCX October gold futures fell 0.1% to ₹154,087 per 10 grams as investors await the Fed?s July meeting minutes and Jackson Hole remarks for policy clues.

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