Silver rallies as gold gains are checked by stubborn Treasury yields

The easing of geopolitical tensions in the Strait of Hormuz provided a brief reprieve for broader markets, as Brent crude retreated toward $99.25 a barrel. Despite this cooling in energy prices, gold struggled to capitalize fully on the shift, trading at $4,356.80. Market sentiment remains tethered to the Federal Reserve’s monetary trajectory, with futures pricing suggesting a 53.1% probability of another 25-basis-point rate hike in October.

Investors are now pivoting toward a series of critical economic indicators scheduled for later this week, including flash PMIs, weekly jobless claims, and durable goods orders. Any signs of persistent economic strength are expected to bolster the dollar and further pressure bullion. Meanwhile, technical indicators show gold bulls eyeing a move above the $4,393 resistance level, while silver faces a test to break through the $67.23 mark to sustain its current momentum.