Gold Sinks to $3,881 and Silver to $50.04 as a 19-Month-High Dollar and December Hike Bets Extend the Slide

Kitco's 11:52 am quote also had platinum at $1,518, down 0.85 percent, and palladium at $983, down 2.96 percent. All four precious metals were lower.

Why are gold and silver falling?

The pressure is rates and the dollar. The dollar index was near 102.85 after reaching a 19-month high, and the 10-year Treasury yield was about 5.00 percent with the two-year near 4.76 percent, according to Kitco. Gold pays no interest, so higher yields make it costlier to hold.

Fed funds futures implied roughly 88 to 91 percent odds of a quarter-point hike at the 8 to 9 December meeting, with a smaller chance of half a point, Kitco said. October inflation rose 0.4 percent on the headline and 0.3 percent on the core measure, and payrolls added 165,000 jobs with unemployment at 4.1 percent. Weekly jobless claims came in at 200,000 against about 195,000 expected, which Kitco read as a labour market that is still resilient.

What price levels are traders watching in gold?

Kitco listed support at $3,919.18 and $3,896.00, both already broken by the 11:52 am quote, and resistance at $3,944.00 and $3,948.98. With support gone, a bounce would first need to reclaim the mid-$3,900s before it counted as more than a pause. Kitco labelled its article as AI-assisted with editor review, and the price figures are corroborated by Fortune and investingLive within the timing differences above.

The next signals are more data and the long wait to the December meeting. If the dollar and yields keep climbing, the metals have little to lean on; a pause in either would give gold its first reason to stabilise this week.