Gold Prices Slide Amid Rising Oil Prices and Higher Treasury Yields

Gold prices declined on Tuesday, August 18, due to rising risk premiums driven by oil prices and higher long-term U.S. Treasury yields.

The spot price of gold traded around $4,390.40 per ounce, down 0.58% for the day, while spot silver settled at $64.890, off 1.17% for the session.

Noshad Shah, head of European, African, and Middle Eastern fixed-income sales at Citadel Securities, noted that amid supply shocks, 'inflation has virtually no breathing room.'