gold futures lost ground early friday and were headed for a weekly loss as treasury yields jumped to kick off april and the second quarter gold for june delivery gc00 gcm22 fell 2450 or 13 to 192950 an ounce on comex may silver sik22 fell 363 cents or 14 to 2477 an ounce gold is on track for a 12 weekly decline while silver is off more than 3 gold and silver both logged weekly and quarterly gains thursday boosted in part by safehaven demand tied to russia’s invasion of ukraine treasurys were under renewed pressure on friday with the yield on the 10year note tmubmusd10y rising around 8 basis points to trade above 240 yields and debt prices move opposite each other rising treasury yields can be a negative for gold as they raise the opportunity cost of holding nonyielding assets the russiaukraine war “has provided solid support to gold and other safehaven assets so any signs of progress on peace talks are likely to see some of that support fade” said rupert rowling market analyst at kinesis in a note “furthermore the inflation headache that is troubling governments and central banks is not going to ease any time soon with more interest rate hikes expected in april to try and curb rising prices” he wrote “these dual headwinds of an unwinding of fear trading and the prospect of rising interest rates making the nonyield bearing asset of gold less attractive” leaving the 1900 level as a key indicator of underlying support for gold