Gold, silver prices tumble up to 2.8%: What investors should watch this week - CNBC TV18

AI desk brief

Gold and silver fell sharply on Monday as higher US yields, a firmer dollar and rising oil prices weighed on non-yielding metals. COMEX gold dropped 1.57% to $4,253.40/oz and silver fell 2.76% to $63.01/oz; last week December gold lost $103.70 to $4,321.20/oz and silver slipped $2.35 to $64.80/oz. In India, MCX gold settled near ₹1.5 lakh/10g and silver at ₹2.34 lakh/kg after weekly declines of about 2.3% and 3%, respectively.

The near-term setup is dominated by US rate expectations: markets are pricing the possibility of another Fed hike in October, while the dollar index has climbed to 101.39, its highest in two months. Brent’s rise to $106/bbl and US crude at $93.47/bbl add inflation pressure and could keep bond yields elevated, though geopolitical risk from the US-Iran/Strait of Hormuz backdrop remains a potential safe-haven support. Traders will focus on this week’s US consumer confidence, GDP, PCE, manufacturing data and September non-farm payrolls, plus Fed commentary, as key catalysts for the next move.