Gold prices slip as Treasury yields top 5.20%, but mining M&A revival signals sector strength

Gold prices fell sharply on Friday as long-term US Treasury yields surged past 5.20%, pressured by rising oil prices and stronger-than-expected US economic data, leaving the precious metal without short-term support. The decline came despite news that Gold Fields launched a $27 billion takeover bid for Australian producer Northern Star Resources, which rejected the offer as undervaluing its potential and exposing it to greater geographic risk. The failed bid signals a broader revival in mining mergers and acquisitions, with major groups positioning for mid-tier producers whose heavy investments are now poised to generate returns, suggesting continued sector dynamism.