Gold Tests $4,100 Level as Dollar Pressure Mounts, Silver Drops Below $62

Precious metals came under sharp pressure with spot gold trading near $4,123 per ounce, down 1.64%, while silver fell 5.45% to $61.545. A strong U.S. dollar near yearly highs, lingering post-Fed rate-hike expectations, and fading geopolitical premium in the Strait of Hormuz drove the declines.

Post-Fed positioning has shifted focus to resilient U.S. data and higher real rates rather than easing. Increased shipping via alternative Hormuz routes and Iran’s 60-day toll waiver eased crude prices to around $73.58 for WTI and $77.47 for Brent, reducing gold’s safe-haven bid and hitting silver’s industrial demand.

U.S. stocks posted modest gains: S&P 500 and Dow Jones rose 0.02% each, Nasdaq gained 0.12%. The dollar index hit a 2026 peak above 101, with 10-year Treasury yields holding in the mid-4% range. Technical targets show gold resistance at $4,180–4,200 and support at $4,091; silver resistance lies at $62–64.29 with support at $61.