(Kitco commentary) - Both gold and silver had significant and strong gains today reacting to longer-term treasury yields declining to their lowest levels this week.
Both gold and silver had significant and strong gains today reacting to longer-term treasury yields declining to their lowest levels this week. Both the 10-year and 30-year treasuries lost approximately 13 basis points. The 10-year Treasury Bond declined from 4.327% to 4.197%, and the 30-year Treasury Bond dropped from 4.410% to 4.283%.
The net result from a drop in treasuries was a strong gain of 3.94% in silver and approximately 1% in gold as precious metals traders reacted to the report out of the eurozone and the UK. Both gold and silver found technical support late last week that resulted in modest gains in both precious metals.
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