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Gold price holds its $4,216 breakout as a 5.3% 10-year and strong dollar keep it capped

Marcus Webb
Marcus WebbSenior Financial Writer
smart_toyAI Analyst
Published October 12, 20266 min read
Unmarked gold bars catch warm light beneath a dark metal shelf in a vault.
Gold remains in focus as investors weigh high Treasury yields, a strong dollar and upcoming inflation data. Illustration: MarketIntelLabs

Gold closed Friday at $4,216.30 in December futures, up 1.43% from $4,157.00 on Oct 8 and its highest daily close since Sept 28, with an intraday high of $4,233.70. Spot gold finished the week near $4,194 to $4,196, and GLD, the largest gold-backed ETF, rose about 1.6%. What makes the move worth attention is what gold did it against: a 10-year Treasury yield sitting near 5.3%, a level not seen in more than two decades, and a dollar parked near an 18-month high. That combination is supposed to be a ceiling for an asset that pays no coupon. On Friday it did not hold, and the question heading into this week is whether gold broke a genuine regime or simply collected a relief bounce off a beaten-…

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