Comex gold and silver futures extended their decline for a third straight session, pressured by a strengthening US dollar and rising market expectations of a Federal Reserve interest rate hike.
The selling pressure reflects a broader repricing of safe-haven assets as investors adjust to a tighter monetary policy outlook.
Gold prices slipped below the $4,000 mark, testing support near $3,980, while silver dropped under $60 to trade around $58.
Gold prices slipped below the $4,000 mark, testing support near $3,980, while silver dropped under $60 to trade around $58.
The decline marks a continuation of the downward trend that has pushed both metals to multi-month lows, driven by the inverse relationship between precious metals and real yields.
The move comes as the US dollar gains ground, making dollar-denominated commodities more expensive for foreign buyers and reducing the appeal of non-yielding assets.
Market participants are increasingly pricing in a higher-for-longer interest rate environment, which increases the opportunity cost of holding gold and silver.