Gold Rebounds as the Oil Shock Fades and Yields Stall

The gold price outlook is holding a bullish structure as crude oil falls more than 8% from monthly highs and U.S. Treasury yields stall.

Razan Hilal, CMT, Market Analyst at StoneX Media, walks through the gold, crude oil and U.S. Treasury yield charts behind the move, live from Dubai. Brent crude has pulled back from a seven-month barrier that had connected higher highs and higher lows since March, relieving inflationary pressure and lifting risk-on sentiment across major assets.

The 10-year U.S. Treasury yield is testing levels last seen years ago with momentum stretched, a setup that preceded an extended consolidation phase the last time it appeared. Gold, meanwhile, sits above an uptrend support that aligns with a trendline extending over a decade, connecting consecutive higher highs since 2016 and flipping into support in 2026.

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