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Precious metals faced broad selling pressure Monday, with the weakness spreading to major U.S.-listed gold and silver miners.
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, it…
China added 20.2 metric tons to gold reserves, while ETF holders weigh real yields and the risk of another 3.9% slide to July’s low.