Gold Prices Plummet Over 1% Amid Rising Treasury Yields

Gold prices plummeted more than 1% on Tuesday as U.S. Treasury yields rose to their highest since January 2025, fueled by rising tensions in the Middle East and inflation worries.

The spot gold price dropped to $4,369.24 per ounce, its lowest level since August 19, while U.S. gold futures fell 1.4% to $4,418.00.

Saxo Bank analyst Ole Hansen attributed the downward pressure on gold prices to rising bond yields around the world, which add to the opportunity cost of holding non-yielding bullion.