Gold & Silver Under Pressure: AI Selloff and Yield Concerns Drive Precious Metals Lower
Precious metals took a sharp hit during Tuesday’s session, with spot gold slipping to $4,338.10/oz (-1.76%) and spot silver dropping to $63.37/oz (-3.49%).
Despite a weaker U.S. dollar and ongoing geopolitical tensions surrounding the Strait of Hormuz, rising global bond yields and a tech-heavy equity selloff kept the pressure firmly on gold and silver.
Key Drivers Behind the Market Shift
Tech & AI Equity Selloff: Broader equity markets closed noticeably lower, led by technology and semiconductor stocks. The Nasdaq fell 1.33%, while the S&P 500 dipped 0.63%.
Sticky Bond Yields: The 10-year Treasury yield hovered around 4.71%, while the 30-year yield stayed near multi-decade highs, continuing to weigh on non-yielding metals.
Energy & Geopolitical Factors: Brent crude held near $91/bbl amid ongoing maritime and geopolitical developments in the Strait of Hormuz. High energy costs continue to fuel inflation concerns, keeping a rate reduction timeline uncertain.
Economic Data & Fed Watch: Traders are closely monitoring the upcoming Fed meeting minutes and flash PMI readings to gauge whether monetary policy will remain higher for longer.
Technical Levels to Watch
Gold (Spot)
Resistance: $4,448.00 | $4,518.00
Support: $4,333.00 | $4,262.00
Silver (Spot)
Resistance: $66.78 | $68.24
Support: $63.57 | $62.20
#Gold #Silver #PreciousMetals #FinancialMarkets #Commodities
$XAU
$XAG
Precious metals took a sharp hit during Tuesday’s session, with spot gold slipping to $4,338.10/oz (-1.76%) and spot silver dropping to $63.37/oz (-3.49%).
Despite a weaker U.S. dollar and ongoing geopolitical tensions surrounding the Strait of Hormuz, rising global bond yields and a tech-heavy equity selloff kept the pressure firmly on gold and silver.
Key Drivers Behind the Market Shift
Tech & AI Equity Selloff: Broader equity markets closed noticeably lower, led by technology and semiconductor stocks. The Nasdaq fell 1.33%, while the S&P 500 dipped 0.63%.
Sticky Bond Yields: The 10-year Treasury yield hovered around 4.71%, while the 30-year yield stayed near multi-decade highs, continuing to weigh on non-yielding metals.
Energy & Geopolitical Factors: Brent crude held near $91/bbl amid ongoing maritime and geopolitical developments in the Strait of Hormuz. High energy costs continue to fuel inflation concerns, keeping a rate reduction timeline uncertain.
Economic Data & Fed Watch: Traders are closely monitoring the upcoming Fed meeting minutes and flash PMI readings to gauge whether monetary policy will remain higher for longer.
Technical Levels to Watch
Gold (Spot)
Resistance: $4,448.00 | $4,518.00
Support: $4,333.00 | $4,262.00
Silver (Spot)
Resistance: $66.78 | $68.24
Support: $63.57 | $62.20
#Gold #Silver #PreciousMetals #FinancialMarkets #Commodities
$XAU
$XAG