Price pressure on gold, silver amid rising U.S. bond yields USbondyields gold silver
- Gold and silver prices are weaker in early U.S. trading Thursday, as U.S. government bond yields continue to push higher due to a still-hawkish U.S. Federal Reserve. April gold was last down $8.20 at $1,833.30 and March silver was down $0.117 at $21.555.
A feature in the marketplace this week has been rising U.S. Treasury yields, with the benchmark U.S. 10-year note yield inching toward the 4.0% level. That suggests the marketplace is coming to grips with a U.S. Federal Reserve monetary policy that will keep interest rates “higher for longer” to successfully tamp down inflation.
In overnight news, the Euro zone January consumer price index was reported up 8.6%, year-on-year, which was right in line with market expectations. U.S. economic data due for release Thursday includes the weekly jobless claims report, the second estimate of fourth-quarter GDP, which includes the closely watched PCE price index, the weekly DOE liquid energy stocks report, and the Kansas City Fed manufacturing survey.
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