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Gold, silver tumble with higher yields dimming metals appeal

Gold, silver lose appeal as Treasury yields increase

Gold wiped out gains for the week and silver tumbled the most since September last year as US Treasury yields extended a rally and the US dollar recovered. Silver lost as much as 9.8 percent, while gold fell as much as 4.5 percent, the most since November last year. The US dollar erased losses amid higher 10-year Treasury yields, which are raising the prospect of a pause in the currency’s recent slide. Higher rates diminish the appeal of bullion, which does not offer interest. Gold, which posted its biggest annual gain in a decade last year, has swung sharply since the start

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