Silver and gold-miner funds fell more than 5% as the 10-year yield rose to 5.24%
Silver and gold-miner funds fell more than 5% on Monday, September 28, 2026, as the 10-year Treasury yield rose to 5.24%.
Key takeaways
The 10-year Treasury yield rose to 5.24% on Monday, from 5.17% on Friday, and the funds that hold silver and gold-mining stocks fell more than 5%. The fund that holds the S&P 500, SPY, fell 0.8%.
That rise was 7 basis points, and the yield touched its highest level since mid-June 2007. It is a small step next to the metals, and Monday extended a slide that was already underway.
Silver fell 5.5% in the fund that holds it, SLV, which is down 12% over the past month. Spot gold was already down about 2.1% last week.
The fund that holds physical gold, GLD, fell 3.9% and is down 11% over the past month. Gold-mining stocks fell more than the metal, and the fund that holds them, GDX, fell 5.4%.
Over the weekend, President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. The fund that holds near-term futures on West Texas Intermediate crude, USO, was up as much as 3.8% and closed up 1.2%. Gold pays no interest, and it fell with the yield anyway.
Long-term U.S. Treasurys touched a 52-week low in the fund that holds them, TLT, which fell 0.9% and traded at $78.27 before closing at $78.62.
Silver and gold miners fell more than 5%
The iShares semiconductor fund, SOXX, fell 2.1%, about twice the 1.0% drop in VanEck's semiconductor fund, SMH. Intel, the largest holding in the iShares fund at 10%, fell 5.7%. Nvidia, the largest holding in VanEck's at 19%, rose 1.7%, to $228.86, while the fund that holds the Nasdaq-100, QQQ, fell 1.1%.
Nvidia's board approved another $150 billion of share buybacks, leaving $235 billion it can use through fiscal 2028.
MongoDB fell 18.5%, to $334.68, after trading as low as $300. Chirantan "CJ" Desai stepped down at once as president and chief executive to lead a new Meta business that sells AI tools to companies. Meta fell 4.8% on the day it launched that business.
MongoDB said it was keeping the forecast it gave on September 1 for the current quarter and the full year.
Boeing fell 6.9%, to $184.39. The Federal Aviation Administration said it will not certify the 737 Max 10 until it assesses a software problem Boeing flagged last month. That problem could cut off automated flight guidance in a go-around, an aborted landing attempt.
Kodiak Sciences rose 178%, to $89.92. The company said two experimental eye drugs, Zenkuda and tabirafusp-ted, met the main goal of a late-stage trial in wet age-related macular degeneration, a disease that blurs central vision. It said 54% of patients on Zenkuda were on 6-month dosing, and that it plans to seek approval in the fourth quarter.
Frequently asked
How much did the silver and gold-miner funds fall?
The silver fund fell 5.5%, and the gold-miner fund fell 5.4%.
How high is a 5.24% 10-year yield?
Monday's rise from 5.17% put the yield at its highest level since mid-June 2007.
Did physical gold fall as much as the miners?
The physical-gold fund fell 3.9%, less than the 5.4% drop in the gold-miner fund.
Did the rest of the stock market fall with them?
The fund that holds the S&P 500 fell 0.8%.
