Precious Metals Hold Defensive Stance as Hormuz Talks Stall and Equities Finish Mixed

Spot gold traded near 4274.70 dollars an ounce, down 0.26 percent, while silver stood at 63.670 dollars, off 1.02 percent, pressured by elevated Treasury yields, a firmer dollar and rising oil prices. US equities closed nearly flat after volatility, whereas European markets declined amid higher oil and bond yields. Strong US data reinforced expectations for another Fed rate hike, with futures assigning 65-70 percent odds for October.