Gold Declines as Fed Minutes and Hormuz Oil Spike Lift Yields

Gold and silver prices fell Wednesday as U.S. Treasury yields and the dollar rose on hawkish Fed minutes and Middle East tensions. Spot gold dropped to $4,074.70 per ounce, down 0.73%, while silver slid 2.85% to $58.13. Earlier support from the jobs report faded amid the oil surge.

WTI crude jumped 6.45% to $74.93 a barrel and Brent reached $78.73, fueling inflation worries. The 10-year yield hit 4.5812% and the dollar index touched 101.18, curbing safe-haven buying for gold.

Technically gold faces resistance at $4,162–$4,214 with support near $4,041. Silver shows bearish signals and risks a break below $58.53.