Christopher Huang, an analyst at OCBC Bank, said, “Rising yields and high oil prices combined with positive economic data are an unfavorable environment for gold. If yields continue to rise, it is no surprise that the price of gold continues to be under pressure.” He added that the long-term logic has not changed, but if the price of gold is to usher in a new round of significant increases, it is likely that new catalytic factors will be needed.

Christopher Huang, an analyst at OCBC Bank, said, “Rising yields and high oil prices combined with positive economic data are an unfavorable environment for gold. If yields continue to rise, it is no surprise that gold prices will continue to be under pressure.” He added that the long-term logic has not changed, but if the price of gold is to usher in a new round of significant increases, it is likely that new catalytic factors will be needed.