Future Of British Business
Gold Extends Rally to Surge the Most Since March; Silver Soars
- Silver gains the most since February 2021 on short covering
- US jobs data due this week may spur renewed volatility in gold
This article is for subscribers only.
Gold soared the most since March, helped by a continued decline in Treasury yields, as traders weighed concerns that central banks’ monetary tightening will lead to recession and the possibility that bond rates may have reached a peak.
Bullion extended its first weekly gain in three, as lower bond rates boosted the appeal of the non-interest bearing asset. Silver gained the most since February 2021 as traders bought back their previously short positions with the dollar and bond yields moving lower.