Commodities
Silver Surges as Gold Holds Steady Amid Bond-Market Pressure
Gold prices remained relatively steady on Thursday, while silver surged in late-afternoon trading. Spot gold was near $4,516.60 an ounce, down 0.12%, but spot silver jumped to $67.960, up 1.60% on the session.
The precious metals' performance came as North American equity markets closed lower due to bond-market pressure from rising Treasury yields. The S&P 500 fell 66.82 points, or 0.9%, and the Dow Jones Industrial Average dropped 703.84 points, or 1.3%.
Despite the equities' decline, the precious metals market showed resilience, with silver trading above its $66.55 breakout level and gold holding above the former resistance at $4,447.