Oil Prices Slide as Gold and Silver Soar Amid Iran Conflict

Gold and silver prices surged on Monday as crude oil fell, following a pause in US-Iranian strikes over the weekend. Spot gold rose as much as 1.6% to $4115 per ounce in early trading, while silver climbed by up to 3.3% to $60.07 per ounce.

The moves came despite recent surges in oil prices and interest rates. US 10-year Treasury yields eased on Monday, falling 4 basis points to 4.6%, after reaching nearly a three-year high of above 4.7% last week.

Paul Christopher, head of global investment strategy at the Wells Fargo Investment Institute, said there is a message for the Fed: 'Uncertainties are piling up, and the bond market expects to get compensated for it.'