Institution: Gold struggles to break through $4000, strong US bond yields pose headwinds.

Investinglive analyst Justin Low said that after facing selling on Tuesday, the spot gold price gradually rose to the range of $3980-3990, but the current price momentum still seems insufficient to challenge the psychological level of $4000. From a macro perspective, the key trends in the bond market this week are worth watching closely. The yield on the 10-year US Treasury jumped to 4.16% yesterday, hitting a one-month high. If the US bond yield continues to climb to 4.21%, it may continue to boost the strength of the US dollar, putting pressure on the gold market sentiment. The bond market is clearly moving in its own direction, and slightly better-than-expected US private sector economic data in recent weeks may impact the Fed's decision in December. Currently, traders are pricing the probability of a 25 basis point rate cut in December at around 61%, but this is by no means certain. Therefore, any adjustments to the market's rate cut expectations will have a crucial impact on gold in the coming weeks. Moreover, we are about to enter the traditional seasonal bullish period for precious metals from December to January.