Bears Gained Momentum After 10-year Treasury Yields Rose Again
Not only the Treasury yields, but DXY is also going up and it ended at 101.114 after the end of New York trading session today (September 23). This puts pressure on some equities as well as precious metal prices.
US10Y (U.S 10 years Treasury yields) have gained some momentum in the trading session today, where it went to 5.11%. At the same day, DXY that is used to see the USD strength against other fiat currencies has also gained some momentum, where it traded up to 101.114.
This caused not only other fiat currencies to fall, but also for precious metals to go down a little bit. Gold finished slightly below $4,300 per troy ounce, and silver at $64.50 per troy ounce. Platinum and Palladium also took a hit, where both of them recorded a -4.3% and -3.34% price change in the past 24 hours alone.
VanEck Gold Miners ETF (GDX) which is often seen as a proper indicator to analyze gold mining stock performance, closed at $93.56, recording a -4.19% price action change in the past day.
Crude WTI oil as well as Brent crude actually recovered a little bit, with both still trading below $100 per barrel.
Related assets: Gold, Silver, Palladium, Platinum, Copper