27 October 2023
Gold prices continued to rise for the third consecutive day, influenced by declining US Treasury bond yields. Despite positive US economic data, including a Q3 GDP growth of 4.9% and a rise in September’s durable goods orders, the 10-year bond yield fell to 4.86%. This decline in bond yields boosted gold’s value. Treasury Secretary Janet Yellen attributed the bond yield movement to the strength of the US economy.