Gold Drops to $4,066 Down 1.52%, Silver Falls 2.75% Amid ECB Hold and Rising Yields

According to Kitco, spot gold fell to $4,066.82, down 1.52%, while silver dropped to $58.06, down 2.75% Thursday morning, as rising Treasury yields, a firmer U.S. dollar, and crude oil prices above $90 a barrel offset safe-haven demand from escalating U.S.-Iran tensions in the Strait of Hormuz. The 10-year Treasury yield rose to 4.714%, its highest in the current move, pressuring bullion by lifting real-rate expectations. The European Central Bank held its benchmark rate at 2.25% after a June hike, while U.S. initial jobless claims dropped to 187,000, keeping markets positioned for the Fed's July 29 meeting as a likely hold rather than a dovish pivot. Brent crude traded above $98 a barrel, while the dollar index remained firm.
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