Gold Prices Plummet as Treasury Yields and Dollar Surge

Gold prices plummeted on Tuesday due to increasing US Treasury yields and a stronger US dollar. The precious metal closed at $4,328.60 per troy ounce, marking a 2.7% decline.

The drop sent gold prices to their lowest level since August 6, according to Refinitiv data. The market has been under pressure for the past two days, with gold prices falling by around 6% over three consecutive trading sessions.

Market analyst Jim Wyckoff attributed the decline to technical selling pressure and rising bond yields globally. He noted that gold's decline below its 200-day moving average is a significant technical signal.

The increase in US Treasury yields, which rose to their highest level since January 2025, has put pressure on gold prices. The stronger US dollar also weighed on gold, making it more expensive for buyers using other currencies.