Gold and Silver Sink as Real US Bond Yields Hit Near-Record Highs - BullionVault

AI desk brief

Gold and silver sold off sharply in Asian trade as real U.S. yields hit near-record highs, with 10-year TIPS yields at 2.87% and gold down 2.5% in Shanghai, 4.2% in Shanghai silver. London bullion fell to an 8-week low, with gold at $4,153/oz and down 9.1% for the month in dollar terms, while the stronger USD and higher probability of another Fed hike kept pressure on metals.

The article links the move to tighter-for-longer Fed expectations, a rebound in the dollar, and a broader risk-off backdrop from slumping Chinese equities and higher crude oil after renewed Middle East tension. Heraeus/SFA said the rise in real yields is particularly significant for precious metals because it reflects investors demanding higher inflation-adjusted returns, not just higher inflation expectations.