[Agency: Gold prices are gradually decoupling from interest rates, and gold ETF holdings have risen to the highest level in seven months] September 23rd, gold usually performs weakly during interest rate hike cycles, but Ole Hansen, head of commodity strategy at Saxo Bank, said that this traditional relationship may be changing. Hansen pointed out that although the ten-year U.S. Treasury yield recently exceeded 5% and reached the highest level in 20 years, gold ETF holdings are still rising, climbing to the highest level in seven months. This suggests that market concerns about U.S. finances are changing the relationship between bond yields and gold prices, with the two becoming increasingly disconnected. He added that historically, yields have been seen as a key indicator of gold's performance because gold and other hard assets such as silver and platinum do not pay interest or dividends, so higher yields can make bonds more attractive relative to holding gold. Traditionally, gold prices have faced downward pressure when real yields rise.