Over $1 trillion wiped from gold and silver as bond yields surge and rate-hike expectations rise
Over $1 trillion was wiped out from gold and silver market values within 12 hours as global bond yields surged and expectations of further US rate hikes rose, with US inflation at 3.4% still well above the 2% target. Higher interest rates made yield-paying assets more attractive, reducing demand for non-yielding precious metals.
Detected & updated continuously · Source: Nebula
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@cryptogoos
Over $1 trillion wiped out from gold and silver over the past 12 hours. This comes as global bond yields surge and expectations of further US rate hikes rise. Higher interest rates make yield-paying assets more attractive, reducing demand for gold and silver, which pay no https://t.co/3sDhwB5Xih
@dbdegn
🚨WTI OIL back to nearly $90, Global bond yields highest since 08 crash, US inflation 3.4% still way above 2% target. I am not long...