Precious metals fell sharply on Monday, with spot gold down nearly 3% intraday and spot silver tumbling 5%, according to ChainCatcher. The move came as rising oil prices added to inflation concerns and strengthened market expectations that the Federal Reserve could raise interest rates further. Tim Waterer, chief market analyst at KCM Trade, said the combination of elevated bond yields and higher oil prices was putting pressure on gold. Investors are now watching a fresh batch of U.S. labor and inflation indicators for direction. The reports in focus include job openings data, the ADP employment report, the Personal Consumption Expenditures, or PCE, inflation report, and the nonfarm payrolls report. The developments reflect a broader macro setup in which energy prices, bond yields, and monetary policy expectations are moving together and weighing on precious metals.
Precious metals remained under pressure on Monday, with spot gold falling nearly 3% intraday and spot silver dropping 5%, according to ChainCatcher.
Rising oil prices added to inflation concerns and reinforced expectations that the Federal Reserve may continue raising interest rates. Tim Waterer, chief market analyst at KCM Trade, said the combination of high bond yields and high oil prices was creating pressure on gold.
Investors are now looking to upcoming U.S. labor and inflation data, including job openings, the ADP employment report, the PCE inflation report, and the nonfarm payrolls report.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
