AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

3/11/2026: Gold slips on rising yields, dollar

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold slipped 1.2% to close under $5,168 as the escalating US war on Iran stoked concerns about a spike in energy inflation, lifting the dollar and Treasury yields. Silver shed 4.5% to finish at $85.07 an ounce.

Iran intensified its attacks on merchant vessels in the Strait of Hormuz, conduit for 20% of the world's oil, and warned that the world should be prepared for oil prices of $200 per barrel. Meanwhile, President Trump upped his warlike rhetoric, saying the US could begin striking more targets in Iran.

US benchmark WTI crude rose 4.6% while Brent crude prices hit $93 per barrel as the Middle East conflict threatens to paralyze the global oil trade and ignite am energy price shock reminiscent of the 1970s.

The average gasoline price jumped above $3.50 nationwide, more than 50 cents higher than before the US and Israel attacked Iran.

The CPI for February rose 0.3%, as expected, suggesting that inflation might have been stabilizing before the Iran war.

Benchmark 10-year Treasury yields climbed well past 4.2% on expectations that oil inflation will keep interest rates higher for longer. Higher yields weigh on gold by increasing the opportunity costs for holding it instead of bonds for safety.

Tracking higher with yield, the dollar rose 0.4% against major rivals, pressuring gold and other commodities by making them more expensive in other currencies.

Platinum and palladium lost 1.9% and 2.5%, respectively.

At the New York spot close: gold slipped $62.30 to $5,167.40; silver shed $4.02 to $85.07; platinum dropped $42.60 to $2,183.05; and palladium lost $42.40 to $1,641.85 an ounce.