US Treasury Yield Hits 19-Year High, Wipes Out $1.2 Trillion in Gold and Silver Value
The US 10-Year Treasury Yield has hit a 19-year high, causing spot gold and silver to plummet nearly 4% and 5%, respectively.
The sharp sell-off wiped out about $1.2 trillion in combined market value from the two metals as investors rotated into interest-bearing bonds.
The key question now is whether this is a trend reversal, liquidity-driven sell-off, or move to key support levels.