Gold settles marginally lower

Gold and Silver Bars

Gold and silver prices eased slightly at Monday’s close amid pressure from higher oil prices and rising global sovereign bond yields, while a weaker dollar helped limit losses.

Government bond yields extended gains as oil prices continued to climb after U.S. President Donald Trump warned over the weekend that time was running out for Iran.

The remarks renewed concerns over a potential military escalation in the Middle East, fueling inflation fears and raising expectations that central banks may need to keep interest rates elevated.

Geopolitical tensions remained the key driver for markets despite media reports that Iran had submitted a revised negotiating proposal to the United States that included suspending sanctions on Iranian oil exports, a condition Washington reportedly accepted.