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.

Daily Summary: Lack of progress in negotiations weighs on Wall Street and precious metals (28.09.2026)
Gold falls 4%
US Open: Wall Street starts the week in red (28.09.2026)
πMarket Wrap: Oil drives yields higher and gold lower (28.09.2026)