Gold prices briefly over $2,000

Gold prices flirted with the $2,000 mark today as investors sought refuge in safe-haven assets amidst mounting geopolitical tensions in the Middle East and anxieties ahead of the Federal Open Market Committee (FOMC) meeting. The precious metal briefly surged, reaching a peak of $2,010 during the Asian trading session before retreating slightly, settling back below the $2,000 threshold.

US Treasury yields, which had previously climbed to historic levels, remain elevated despite a minor retreat from recent peaks. The 10-year bond yield hit 5.02%, a figure not seen since 2007. The surge in US government debt returns bolstered the strength of the US Dollar, leading to an appreciation of both the USD and gold.

Despite US real yields soaring and dollar strength remaining rampant the precious metal has managed to maintain its ground.