Gold, silver under pressure: How oil, dollar and Fed outlook are shaping prices - CNBC TV18

AI desk brief

Gold and silver are softer in early Asian trade as higher crude, a firmer dollar and rising Treasury yields weigh on bullion ahead of the Fed’s two-day meeting. COMEX gold is down 0.28% at $4,339.60/oz and COMEX silver 0.58% at $63.765/oz; spot gold is at $4,291.59/oz and spot silver at $63.03/oz. In India, gold fell ₹500 to ₹1.55 lakh per 10 grams while silver was steady at ₹2.34 lakh/kg.

The near-term setup is mixed but currently negative: US crude is up around 1.2% after West Asia tensions, the dollar index is at 99.53, and the benchmark US 10-year yield briefly touched 5%, raising the opportunity cost of holding non-yielding metals. A hawkish Fed message would likely keep pressure on gold and silver, while a less hawkish signal or any easing in oil could provide support. ANZ remains constructive longer term, citing recovering gold ETF holdings, institutional demand in China and rising investor participation in India, and has a 12-month gold target of $5,400/oz.