Gold and Silver Weaken as December Fed Rate Hike Odds Rise

Gold and silver prices declined on Monday, with spot gold falling 0.59% to around 4,168.90 dollars per ounce and silver dropping 0.96% to 60.120 dollars. A stronger US dollar, rising oil prices, and higher Treasury yields countered safe-haven buying linked to tensions in the Strait of Hormuz involving the US and Iran.