Gold and silver futures fell sharply on Tuesday as a wave of selling in technology stocks, driven by fears of higher interest rates, spilled over into the precious metals market.
Gold futures dropped 1.5% to settle at $4,142 an ounce, while silver also posted significant losses amid the broader risk-off sentiment.
The decline in precious metals reflects a shift in investor appetite for non-yielding assets as expectations for U.S. monetary policy tighten.
With Wall Street banks reassessing their gold forecasts, the sell-off underscores the sensitivity of commodities to interest rate dynamics.
The move comes after precious metals and bitcoin retreated earlier in the week, signaling persistent pressure on assets that do not generate income.
This repricing highlights the interconnectedness of equity and commodity markets during periods of macroeconomic uncertainty.