The Investor
28 Sep 2026, 15:00
Gold, Silver and Bitcoin Fall as Rising Treasury Yields Pressure Alternative Assets
Gold, silver and Bitcoin moved sharply lower on Monday as rising U.S. Treasury yields and renewed inflation concerns weighed on assets that do not generate income.
Gold futures fell 3.9% to about $4,151.80 an ounce, while silver dropped 5.5% to $61.24. Bitcoin declined 1.9% to around $82,924, extending the broader risk-off move across markets.
The selloff comes as U.S. bond yields continue to climb, with the 10-year Treasury yield moving above 5.2%. Higher yields increase the opportunity cost of holding gold and silver, while also tightening financial conditions for speculative assets such as Bitcoin.
Rising oil prices are adding to the pressure by pushing inflation expectations higher. That makes investors less confident that the Federal Reserve will be able to ease monetary policy quickly and increases the possibility that interest rates remain elevated for longer.
Silver is underperforming gold because it carries both precious-metal and industrial exposure, making it more sensitive to shifts in growth expectations and market volatility. Bitcoin is also being pressured by the same higher-rate environment as investors reduce exposure to riskier assets.
The common theme across all three markets is the sharp rise in real and nominal yields. Unless Treasury yields stabilize, gold, silver and Bitcoin could remain vulnerable despite their different long-term investment narratives.
Gold, silver and Bitcoin moved sharply lower on Monday as rising U.S. Treasury yields and renewed inflation concerns weighed on assets that do not generate income.
Gold futures fell 3.9% to about $4,151.80 an ounce, while silver dropped 5.5% to $61.24. Bitcoin declined 1.9% to around $82,924, extending the broader risk-off move across markets.
The selloff comes as U.S. bond yields continue to climb, with the 10-year Treasury yield moving above 5.2%. Higher yields increase the opportunity cost of holding gold and silver, while also tightening financial conditions for speculative assets such as Bitcoin.
Rising oil prices are adding to the pressure by pushing inflation expectations higher. That makes investors less confident that the Federal Reserve will be able to ease monetary policy quickly and increases the possibility that interest rates remain elevated for longer.
Silver is underperforming gold because it carries both precious-metal and industrial exposure, making it more sensitive to shifts in growth expectations and market volatility. Bitcoin is also being pressured by the same higher-rate environment as investors reduce exposure to riskier assets.
The common theme across all three markets is the sharp rise in real and nominal yields. Unless Treasury yields stabilize, gold, silver and Bitcoin could remain vulnerable despite their different long-term investment narratives.
