Commodities
US 10-Year Yield Hits 19-Year High, Crushing Gold and Silver Prices
Gold and silver prices have plummeted nearly 4% and 5%, respectively, as the US 10-year Treasury yield hits a 19-year high. The sharp decline in precious metals has erased around $1.2 trillion in combined market value.
The rising US 10-year Treasury yield has strengthened the USD, making non-yielding assets such as gold and silver less attractive to investors. This shift in investor sentiment has led to a liquidity-driven rotation into bonds, potentially putting pressure on risk assets, including cryptocurrencies and DeFi tokens.
The question remains whether this is a trend reversal or a short-lived sell-off. Investors are closely watching key support levels to gauge the severity of the market downturn.