Gold prices edged lower on Thursday, retreating from recent highs amid a rebound in US Treasury yields. According to FX Street, XAU/USD traded around $4,488, down from an intraday peak of $4,527, which marked its highest level since June 2.
The precious metal slipped about 0.7% during the European trading session, pulling back from its 11-week high of $4,527 reached earlier in the day. FX Street noted that this downward pressure on gold came as US Treasury yields recovered some of the losses they had suffered on Wednesday.
For Japanese investors, the movement in gold prices is closely watched as it often reflects broader shifts in risk sentiment and currency fluctuations, influencing asset allocation decisions across FX and equities markets.