Gold & Silver Sell-Off On Higher Treasury Yields

GOLD

With oil and gas prices reaching record highs and the 10-year Treasury yield hitting 5% in early U.S. trading, Gold reached a low this morning of $4,253 per ounce. Gold rallied back on bargain buying as the market moved into the early afternoon. Gold rallied back over $4,300 in later U.S. trading.

At 11am PT today, Gold is down $52, trading at $4,313 per ounce on excellent volume.

SILVER

Silver followed Gold lower in early U.S. trading, reaching a low of $62.22 before rallying back over $1 per ounce. After reaching today’s low, Silver found sizeable fresh bargain buyers and rallied $1.50 off the lows.

At 11am PT today, Silver is trading at $63.76 per ounce, down $0.74 on excellent volume.