Gold and silver slide Tuesday as Middle East tensions rise
Business
Gold and silver took a hit this Tuesday, mostly thanks to rising conflict in the Middle East and a stronger US dollar.
Gold briefly touched $4,540 per ounce before settling at $4,517, while silver slid from $79.25 to $76.58.
Investors are feeling uneasy as uncertainty grows.
U.S.-Iran tensions rattle market confidence
Escalating U.S.-Iran tensions (like recent airstrikes and Iran's reported targeting of a US F-35 jet) have shaken confidence in the markets.
Even though Trump says he's hopeful about peace talks, ongoing disputes over Iran's nuclear program and the key Strait of Hormuz keep things unsettled.
On top of that, higher bond yields and a strong dollar are making gold less appealing right now, especially for buyers outside the US.