Gold And Silver Prices Tumble As Rising Bond Yields Put Precious Metals Under Pressure - International Business Times

AI desk brief

Gold and silver sold off sharply Monday as rising government bond yields and a firmer dollar pressured non-yielding metals: December gold was around $4,115/oz, down roughly 4%, while December silver fell to about $60.23/oz, more than 5% lower. The move extended the pullback after August’s surge, when gold rose 9.1% to $4,481.50/oz and silver gained 15.9% to $66.99/oz, per CME data.

The article frames the sell-off as a rates-driven reversal: the Fed’s Sept. 16 quarter-point hike to 3.75%-4.00%, still-elevated inflation, and stronger Treasury yields have increased the appeal of interest-bearing assets versus bullion. It also notes strong underlying demand remains a support, with WGC reporting August global gold trading volume up 21% to about $430bn, exchange-traded activity up 33%, COMEX gold derivatives up 28%, and official-sector buying at a record 289t in Q2.