Gold and silver edge lower as Hormuz flare-up boosts oil; Fed risk premium in focus — Kitco PM Report
AI Market Summary
Gold and silver weakened as higher U.S. Treasury yields and a firmer dollar offset post-payrolls support, while renewed Strait of Hormuz attacks lifted oil and added a geopolitical risk backdrop. Gold failed to regain the $4,200 area and silver retreated after stalling above $62, reinforcing a consolidation regime where rates and FX remain the primary near-term drivers for precious metals pricing.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.33%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Gold and silver traded softer late Tuesday in North American hours as rising U.S. Treasury yields, a firmer dollar and renewed attacks around the Strait of Hormuz outweighed the post-payrolls support that followed last week's weaker U.S. jobs data.
At the time of writing, spot gold was near $4,127.10 an ounce, down 0.04%. Spot silver was around $60.859, little changed on the day.
On Comex, front-month gold settled at $4,145.30, off 0.24%. Front-month silver settled at $60.931, down 1.60%.
Gold's retreat kept prices below the $4,200 area that capped the rebound after the payrolls report. Silver snapped a four-session winning streak after failing to hold above $62.00.
The broader metals complex remains in a consolidation phase. Cooling U.S. labor momentum continues to underpin gold on pullbacks, but the market likely needs lower yields or a softer dollar to turn the payrolls-driven bounce into a more durable upside trend.
Full article at Kitco:
