Gold slipped 0.08% to $4,329.30 an ounce on the COMEX, its lowest close since early September, while silver climbed 0.59% to $64.235 an ounce, beating the 0.5% average weekly gain for the last quarter.
The intraday swing was tight: gold touched a high of $4,339.50 before settling near $4,315.20, and silver peaked at $64.480, dipping to $63.940 over the session.
In India, gold prices tumbled ₹1,000 per 10 grams, falling to ₹1.54 lakh, its lowest in over a month, whereas silver held steady at ₹2.34 lakh per kg, taxes included.
Treasury yields pushed higher, with the 10‑year Treasury crossing the 5% mark – the first time since 2007 – while the dollar index hovered near a two‑week peak, tightening the environment for bullion.
Brent crude stayed elevated around $108 a barrel, feeding inflation worries that could prompt the Fed to keep rates tight. The Fed’s policy statement is due later today, and market participants are watching for any hint that rates may stay unchanged or shift higher, which would further pressure gold and moderate silver gains.
Analysts suggest the Fed could maintain a dovish stance given the muted growth in retail sales, but the persistence of high bond yields and a strong dollar may tilt sentiment towards a rate hike. Investors will gauge the policy tone and its implications for both commodity prices and the broader equity markets.