Gold Climbs Past $4,000 Ignoring Rising Yields and Oil Shock

Gold prices jumped Tuesday to near $4,080 an ounce on short covering and fresh safe-haven demand, even as Treasury yields and the dollar rose. Silver gained more than 4% to around $58.70. Geopolitical strain in the Strait of Hormuz lifted oil, with Brent settling at $91.01 and WTI at $84.91 a barrel. North American and European equities closed higher, led by tech and energy shares. September Fed hike odds eased to 63%, while the 10-year yield climbed to 4.628%. Traders await ceasefire updates and Friday’s flash PMI data. Technically gold has retaken ground above $4,041.65 and eyes $4,087.30 next, while silver tests resistance near $59.15. Key support sits at $3,998.80 for gold and $56.00 for silver.