Market Analysis: US Treasury bond yields continue to rise, further suppressing gold prices.

Market analysis indicates that the continuous increase in US Treasury yields further suppresses the price of gold. Previously, the 10-year US Treasury yield continued to rise after reaching a two-week high in the previous trading day, increasing the opportunity cost of holding interest-free gold accordingly. In addition, tensions in the Middle East have pushed up oil prices, exacerbating market concerns about inflation pressure and the possibility of interest rate hikes. According to the CME Group's FedWatch tool, the market currently estimates a 76% likelihood of the Federal Reserve raising interest rates before December, reflecting widespread expectations among traders that the Federal Reserve will start hiking rates before the end of the year.