The ten-year US yields at 4.67% were around 1% lower Friday; however, yields were up nearly 1% to finish the week higher, whereas the 2-year US yields at 4.99% were up nearly one bps on the week, but down nearly one bps Friday.
Gold and silver prices rallied for the fourth straight session and hit fresh peaks on Friday, with the yellow metal gaining sharply by Rs 1,050 to breach Rs 73,000 per 10 grams level amid bullish global trend.
Now, the US interest rates may stay higher for longer. The ten-year US yields took a peak above 4.50% level as the yields surged 4.27% to settle at 4.545%, whereas the US Dollar Index surged 1.05% to close at 105.19. The Dollar Index is expected to extend its gains to 108 levels in the near term, which will be bearish for commodities in general.
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