Gold Tests $4,300 Support Again as Bond Yields Rise and Jobs Data Looms

Gold prices wrapped up the week lower near $4,292 an ounce as U.S. 10-year yields climbed to 5.20%. Analysts link the pressure to expectations of earlier Fed rate hikes that raise the opportunity cost of holding the metal.

Despite the decline, the market shows resilience thanks to strong central bank purchases, geopolitical tensions and steady ETF inflows. Experts note that two months ago gold was defending $4,000 when yields were much lower.

Next week’s PCE and Nonfarm Payrolls reports will be key, potentially shifting yields and the dollar. Support at $4,235 and $4,000 faces risks, yet elevated U.S. debt levels point to long-term buying opportunities for gold.