Analyst: US Treasury yields and the dollar jointly pressure gold, making it difficult for bulls to act in the short term

Golden Ten Data reported on May 21 that gold prices edged lower due to rising US Treasury yields and a stronger US dollar putting pressure on gold, while news that a resolution to the US-Iran conflict is in sight limited the decline in gold prices. ANZ analyst Soni Kumari stated that inflation expectations, rising US Treasury yields, and a stronger US dollar are adverse factors putting pressure on gold prices. These factors will persist until it becomes clear how long this conflict will last. Since the outbreak of the war at the end of February, gold has fallen by more than 14%. OANDA senior market analyst Kelvin Wong stated that gold is expected to continue weakening in the coming trading days, with resistance at $4,645 and support at $4,456.