Gold futures reverse early gains as high Treasury yields pressure market.

Bob Iaccino breaks down the recent price action in December Gold futures, noting an early reversal that left the market down for a fifth week in six. Despite a soft September nonfarm payrolls report adding just 29,000 jobs, the CME FedWatch Tool continues to price in a December rate hike, keeping the macroeconomic environment challenging for precious metals. Treasury yields remain a primary headwind, with both the 10-Year and 30-Year yields hitting their highest levels since 2002.