Mirae Asset links 24.6% gold slide to rising US yield
Business
Gold has slid 24.6% from its peak earlier this year;
Mirae Asset Mutual Fund points to rising US Treasury yields (like the 10-year yield hitting 5.27%) as a big reason, since higher yields make gold less attractive (it doesn't pay interest).
Mirae Asset: 700t gold purchases expected
Even with these drops, Mirae Asset is still upbeat about gold's future.
It highlights that central banks are expected to buy around 700 metric tons of gold in 2026 to diversify away from the US dollar and manage global risks.
Plus, India's festive season could boost demand soon, which might help steady prices in the short term.