Gold slips below $4,010 as silver rebounds to $56.72
Gold prices slipped below $4,010 on Monday, with spot gold and futures both edging lower.
Rising US interest rate expectations, fueled by inflation worries, are making gold less attractive right now, despite safe-haven demand triggered by tensions in West Asia.
Meanwhile, silver bounced back with a 0.7% gain, hitting $56.72 per ounce after dropping last week.
Crude tops $90 amid US-Iran tensions
Crude oil prices shot past $90 a barrel amid U.S.-Iran tensions, fueling more concerns about inflation.
The Federal Reserve hinted at possible rate hikes, which pushed investors away from gold since it doesn't earn interest.
Silver's rebound was helped by bargain hunters looking for deals after its recent slide.
Analysts expect gold and silver swings
Analysts say gold and silver could keep swinging in the days ahead as everyone waits for new economic data and watches global events unfold.
If you're keeping an eye on these metals, expect some ups and downs soon.