Bond Yields Surge to Multi-Decade Highs, Dragging Down Gold and Silver

Gold and silver futures plummeted on Tuesday as bond yields surged to multi-decade highs. This comes after long-term borrowing costs from the US to Japan and Germany reached their highest levels in decades in recent days.

The decline of gold and silver prices was driven by the increase in US Treasury yields, which jumped to multiyear highs. The soaring yields outweighed support from a softer US dollar and lingering Strait of Hormuz risk.

It's worth noting that these metals have traditionally been seen as safe-haven assets, but their decline suggests investors are reassessing their value in the current market environment.