Institutions: Gold struggles to break through $4,000, strong US Treasury yields pose a headwind.

Investinglive analyst Justin Low stated that after Tuesday's sell-off, spot gold prices gradually recovered to the $3980-$3990 range, but current price momentum still seems insufficient to challenge the psychological level of $4000. From a macro perspective, key developments in the bond market this week warrant close attention. The 10-year US Treasury yield jumped to 4.16% yesterday, a one-month high. If the yield continues to climb towards 4.21%, it could further boost the US dollar, thus putting pressure on gold market sentiment. The bond market is clearly moving independently, and recent slightly better-than-expected US private sector economic data may influence the Fed's December decision. Currently, traders are pricing in a 61% probability of a 25 basis point rate cut in December, but this is by no means a certainty. Therefore, any adjustments in the market's pricing of rate cut expectations will have a crucial impact on gold in the coming weeks. Moreover, we are about to enter the traditional seasonal bullish cycle for precious metals, from December to January of the following year. (Golden Ten)