Gold Slides 4% as 10-Year Treasury Yield Climbs to 5.27%

Spot gold fell 4% intraday to $4,113.68 an ounce on Sept. 28 as the 10-year U.S. Treasury yield climbed 10 basis points to 5.27%, marking a sharp shift across major asset markets with implications for crypto traders.

The decline put gold near the $4,113.41 level recorded June 11, when the metal gained 1% during the session. Monday’s move was sharply different, with bullion losing ground as long-term Treasury yields rose.

The 10-year yield has gained 52 basis points since Sept. 1, while gold has fallen more than $340 from its Aug. 19 level. The combination suggests that demand for the safety of government bonds is outweighing defensive buying of gold.

Higher long-term yields are becoming the dominant force in gold’s short-term pricing and are being watched as a broader risk signal for crypto markets.