Gold prices tumbled to a seven-week low on Monday as surging U.S. Treasury yields, a stronger dollar and rising expectations for another Federal Reserve rate hike outweighed safe-haven demand from the ongoing Iran conflict.
At the time of writing, spot gold was down 3% to around $4,156 per ounce, its lowest level since Aug. 5, while gold futures for December 2026 deliveries dropped 3.1% to $4,186.70 an ounce.
Silver fell even harder, with spot prices down nearly 5% to around $61.17, while December 2026 contracts were down 4.8% at $61.7.
