Gold, Silver Sink as Bond Yields Jump on Bessent and Trump's Debt

AI desk brief

Gold and silver fell sharply in London as bond yields jumped, with U.S. 10-year Treasury yields touching 4.93% after stronger-than-expected inflation and jobs data, while the ECB raised rates 25bp but kept policy below inflation. Gold dropped from above $4,400/oz to $4,324 on the U.S. PPI print and silver slid through $64/oz after topping $68 the prior day; platinum and palladium also weakened as the macro backdrop tightened.\n\nThe article also flags higher oil prices, Middle East shipping-route disruptions, and Treasury buyback operations failing to stop the bond selloff. WPIC's Edward Sterck said precious metals are currently trading in tandem and that macro conditions, rather than metal-specific fundamentals, are driving platinum’s price action despite a projected H2 2026 supply deficit.