Gold and Silver Prices Struggle Now but Higher Long-Term Base Is Building - BMO Capital Markets

Gold and silver are under pressure from Middle East tensions that have lifted oil prices and stoked inflation fears, prompting bets on sharper rate hikes. Ten-year bond yields have hit a fresh 20-year high above 5.20%, raising the opportunity cost of holding non-yielding metals. Spot gold last traded at 4134.80 dollars an ounce, down nearly 3.5%, while silver stood at 61.19 dollars, off more than 4.5%.