Gold tumbles below $4,400, silver plunges 5% as crude above $100, rising yields, and stronger dollar weigh…

Fresh updates from the financial markets indicate that Precious metals declined sharply on September 10 as rising bond yields and a stronger dollar weighed on bullion, while elevated crude prices fuelled inflation concerns and expectations of tighter Fed policy.

Comex gold declined 1.68 percent below $4,386 per ounce during the afternoon trade (13:17 GMT) on Thursday, and silver declined 5.37 percent, hovering just below $65 per ounce. The domestic gold futures for the October contract were down almost 1 percent to Rs 1,52,249 per 10 grams during the evening session, and silver eased 3.63 percent to Rs 2,35,347 per kilogram (18:58 IST) from its previous close.

According to Jateen Trivedi, VP Research Market observer (commodity and currency) at LKP Securities, gold traded weakly and with volatility, giving up upside from elevated marks as earnings booking emerged amid a climb in bond yields and the Dollar Index.

The dollar advanced 38 paise to close at $95.46 (provisional) against the indian rupee on Thursday, as Brent crude breached the $102 threshold.

"Elevated crude prices are keeping inflation concerns elevated, increasing expectations of a tighter Fed policy and weighing on bullion. Overall, gold is likely to stay under pressure at elevated marks amid a stronger dollar and expectations of rate hikes. Gold range can be noted between Rs 1,51,500 and Rs 1,55,000," Trivedi stated.

Traders at large continued to price in the impact of the upcoming Fed policy decision. The current week’s PCE Price Index data will be important for gauging inflation trends and shaping expectations ahead of the week ahead’s Fed meeting amid rising tensions in the Middle East.

According to Vedika Narvekar, Research Market observer at Anand Rathi Share and Stock Brokers, recovery in crude prices is noted exerting pressure again. "The current week has been more around consolidation and less around conviction. The market is simply waiting for clarity on the Fed's next move."

In the meantime, gold ETFs further noted $18 bn in August 2026 (the 2nd-largest monthly inflow ever), pushing global holdings to a record 4,189 tonnes, breaching the February 2026 peak of 4,176 tonnes.

"But rising bond yields and firmer oil are working against gold. Besides all this, there's growing unease around US fiscal health. That's keeping safe-haven demand alive, even with rate-hike odds rising," Narvekar stated.