Gold futures hit a 10-session low as Treasury yields spike.

June Gold futures experienced significant selling pressure, falling 3.66% at the lows to reach a 10-session trough near 4,513.80. This marked the largest single intraday move since late March. The primary catalyst for the downward momentum was a double-digit spike in Treasury yields across all four major maturities, a magnitude of movement not seen since April of last year. Adding to the headwinds, ongoing geopolitical tensions and the continued closure of the Strait of Hormuz sustained elevated energy prices and inflation concerns. Despite a U.S.-China summit aimed at addressing the blockade and regional stability with Tehran, market participants largely viewed the diplomatic developments as a non-event, leaving the fundamental pressures on gold intact.