Archive · 28 Sep 2026
Gold and silver plunge as Iran talks falter, yields rise
Gold and silver prices fell sharply on Monday.
Talks between the United States and Iran did not produce a peace deal.
This helped push oil prices higher.
More expensive oil can increase worries about inflation.
Investors then expected the Federal Reserve to keep interest rates high for longer.
Higher interest rates and a stronger dollar usually make gold and silver less attractive.
Silver fell more than gold during the selloff.
Prices could recover if the Fed becomes less strict or Iran talks make real progress.
COMEX gold futures fell more than 2% to an intraday low of $4,224.1 per ounce.
Silver futures dropped about 4% to $62.21 per ounce.
The breakdown in United States-Iran peace negotiations pushed crude oil prices higher and revived inflation concerns.
A stronger dollar and elevated United States Treasury yields pressured non-yielding precious metals.
In India, December gold futures fell about 2%, while silver futures declined 2.4% on the Multi Commodity Exchange of India.
- Who
- Gold and silver markets, investors, the United States, Iran, and the Federal Reserve were involved.
- What
- Gold and silver futures fell sharply as failed Iran peace talks, higher oil prices, a stronger dollar, and elevated United States Treasury yields pressured precious metals.
- When
- Monday; the article also references the Federal Reserve’s expected October rate decision.
- Where
- The declines occurred in COMEX futures markets and Indian markets on the Multi Commodity Exchange of India.
- Why
- Falling peace negotiations lifted crude oil prices, increasing inflation concerns and expectations that the Federal Reserve may keep interest rates higher for longer.
- COMEX gold low
- $4,224.1 per ounce
- COMEX gold decline
- More than 2%
- Silver low
- $62.21 per ounce
- Silver decline
- Around 4%
- Indian gold futures
- December contract traded around 2% lower at Rs 150,600 per 10 grams
- Indian silver futures
- December contract traded around 2.4% lower at Rs 235,643 per kilogram
- Expected Fed move
- More than 68% of market participants expected a 25-basis-point rate increase in October, according to CME FedWatch