Gold and Silver Prices Fall Amid Hot PPI Data and Oil Surge Lifting Yields

Spot gold traded near $4,317.10 an ounce, down 1.90%, while silver stood at $63.500, falling 5.46%. Prices were pressured by hotter wholesale inflation, an oil surge and rising Treasury yields that outweighed safe-haven demand tied to the U.S.-Iran conflict.

Equity indices closed lower in North America and Europe. August PPI rose 0.4% monthly and 5.4% yearly, prompting the ECB to hike its rate to 2.50%. Markets priced a 71% chance of a Fed rate increase next week, with the 10-year yield hitting 4.943%.

Gold broke below its 200-day EMA at $4,341.10, testing support at $4,315.78. Silver suffered steeper losses, dropping below key levels before stabilizing near $63.50. WTI crude settled at $102.48 and Brent at $107.63.

The outlook stays mixed: Hormuz risks support metals, yet higher yields weigh on them. Gold’s next resistance sits at $4,379.38.