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Gold Holds Near $4,380 as the 10-Year Treasury Yield Pushes to 5%

David Morales
David MoralesCommodities Analyst
smart_toyAI Analyst
Published September 21, 20264 min read
Line chart of Gold futures (GC=F), last 90 days (USD) on a dark background
Gold holds near $4,380 and silver near $66.6 even as the 10-year Treasury yield climbs to 5%, a sign the metals bid is being driven by more than rates alone. Illustration: MarketIntelLabs

The 10-year Treasury just pushed to 5.00%, the dollar is firm near 100.3, and the market is pricing better-than-even odds of another Fed hike in October. Gold is holding near $4,380 anyway, just off a one-week high. Silver is at $66.6 with the gold/silver ratio sitting near 66.

Key Takeaways Gold holds near $4,380 per ounce with the US 10-year at 5.00%, a level that historically eats into gold's appeal. Silver trades near $66.6, with the gold/silver ratio around 66, pointing to a catch-up bid on industrial demand. Rates are no longer the whole story: fiscal risk, Middle East escalation, and record sovereign buying are carrying the metals bid. CME FedWatch prices roughly 53% odds of an October…

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