Gold Experiences Rare Single-Day Decline Amid Surging U.S. Treasury Yields

Gold prices dropped 3.4% in a single day, a rare decline not seen in nearly 20 years. Analysts at The Kobeissi Letter noted that this move represents a Z-score of -2.90, an extreme outlier occurring with a probability of approximately 0.2%. The sharp decline is attributed to significant pressure from rising U.S. Treasury yields on the precious metals market.