Gold, Silver Fall as Inflation Fears Fuel Rate-Hike Bets

Gold and silver fell as a war-driven surge in US inflation fueled expectations for higher interest rates.

Bullion fell as much as 1.9% to below $4,565 an ounce, and is down around 3% since last Friday. Two-year Treasury yields climbed to the highest level in 14 months, while the greenback rose 0.3%, putting pressure on gold and silver that pay no interest and are priced in the dollars.