Gold Keeps Struggling Against the Tide - ActionForex

Gold is struggling as a stronger U.S. dollar, rising Treasury yields, and stubborn oil prices weigh on demand. After a disappointing September—when gold slid 6% alongside a Fed rate hike, a firmer dollar, and long-term yields hitting 24-year highs—the metal has failed to rebound. Brent has pushed back above $100 per barrel as attacks tied to Iran and Yemeni Houthis disrupt Middle East oil flows, with Kpler citing Strait of Hormuz throughput down from 91% to 74% of pre-war levels. Markets also await the Fed’s September minutes amid uncertainty over an October versus December tightening path. Meanwhile, China added 740,000 ounces to reserves in September, and the LBMA projects gold could reach $5,013/oz in 12 months.