Gold and Silver Shed $400 Billion in Minutes. Here’s What Really Happened - Yahoo Finance

AI desk brief

Gold and silver sold off sharply as US bond yields spiked to their highest levels since 2002, with 10-year Treasury yields reaching 5.35% and 30-year yields 5.70%. Gold fell from about $4,120 to near $4,066/oz in 15 minutes, while silver dropped from roughly $60.13 to $59.00 before both rebounded; the article frames the $400bn headline loss as a paper-value repricing, not physical outflows.

The move was driven by the rising opportunity cost of holding non-yielding metals ahead of a $39bn 10-year Treasury sale and Fed minutes from the September meeting. CME FedWatch showed a 69% chance of another December hike, keeping real-rate and duration pressure the key near-term risk for XAU/XAG despite the article noting some contrarian bullish views.