Gold Futures Fall to $4,046/oz on July 23 as Inflation Concerns Mount

XAU-1.72%
According to Yonhap Infomax, gold futures fell sharply on July 23, with August deliveries on COMEX dropping $105.60 (2.54%) to $4,046.30 per troy ounce by 2:27 p.m. ET. The decline was driven by rising U.S. Treasury yields, which hit 4.70% for the highest level since January 2025, and surging oil prices, with Brent crude exceeding $100 per barrel for the first time since late May. Jim Wickoff, market analyst at American Gold Exchange, noted that higher oil prices pushing up bond yields signals central banks may be forced to maintain rates due to inflation concerns, which is unfavorable for gold investors holding long positions.
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