Bond yields continue their sharp rise as traders bet on a quick reflation scenario. One of the major victims is Gold – there is a strong negative correlation between yields and Gold prices as we were showing at the last weekly webinar. Gold prices were underpinned by $1765 level for a while but a surge in yields eventually was too much and now we can see prices moving towards the lower limit of a channel with still plenty of room and horizontal $1680 level along the way. Do notice how 50 and 75 LWMAs now work as a resistances – another sign of a possible trend reversal.

π―Chart of the day β USDJPY under the influence of Bessent and the BoJ (10.09.2026)
πMorning Wrap: Hawkish Bank of Japan and Trump's Promises Electrify Markets Ahead of PPI Data
Daily summary: Wall Street falls as oil prices rise π© 10-year Treasury yields hit their highest level since 2023
EIA raises oil price forecasts π³ What did the STEO report show?