Gold and silver futures decline, gold price falls below $3,900 per ounce

U.S. inflation remains persistent, and the market anticipates that the Federal Reserve may further tighten monetary policy. This expectation has led to a stronger U.S. dollar and pushed up U.S. Treasury yields. Due to multiple factors, gold and silver futures prices saw a significant decline on the 12th. Gold futures for December delivery on the New York Mercantile Exchange once again fell below the $3,900 per ounce mark, with intraday losses exceeding 3.5% at their peak. December silver futures fell below $50 per ounce, dropping over 4%. On the 12th, the benchmark 10-year U.S. Treasury yield fluctuated around 5.00%, while the two-year Treasury yield rose to oscillate around the 4.76% range. After hitting its highest level in 19 months, the U.S. dollar index remained in a strong upward trend. Currently, gold prices have retreated to their lowest level in more than a week, while silver prices continue to weaken due to concerns over industrial demand and expectations of tighter financial conditions. Some analysts suggest that persistently high inflation will force the Federal Reserve to maintain a tightening policy stance, and precious metals may face further selling pressure in the future.