US stocks close lower across the board; gold and silver plunge more than 4% - finance.biggo.com

AI desk brief

Gold and silver were hit hard on Monday as COMEX gold fell 4.00% to $4,148.50/oz and silver dropped 5.82% to $61.03/oz, with the selloff tied to surging U.S. Treasury yields and a stronger dollar. The 10-year Treasury yield moved above 5.2% and the 30-year above 5.5%, lifting real-rate pressure on non-yielding metals and triggering broad liquidation.

The article also flags oil-linked inflation risk and geopolitical tension around the Strait of Hormuz as key macro drivers. ECB President Lagarde said inflation risks remain tilted higher and that the oil/natural gas shock from the U.S.-Iran conflict is the main source of price pressure, keeping the policy backdrop supportive of higher-for-longer rates — a near-term negative for gold and silver.