Spot gold dropped 0.63% to trade near $4,137.80 an ounce, while silver managed a marginal 0.12% gain to reach $56.930. The benchmark 10-year Treasury yield climbed to approximately 5.135%, reversing recent bond-market gains and cooling appetite for non-yielding bullion. Market sentiment remains anchored to the divergence between slowing employment growth and stubborn inflation, with futures markets pricing in a near-certainty of additional tightening by December.

Global equity markets presented a mixed picture. North American indices saw a rebound in technology and semiconductor shares, helping the Nasdaq Composite climb 1.1%. Conversely, European markets struggled as political instability in France and Italy pushed sovereign bond yields higher, dragging the Stoxx Europe 600 down 0.80%. Energy markets remained volatile, with Brent crude settling at $109.55 a barrel as traders monitored shipping disruptions in the Middle East and shifting sanctions policy regarding Russian energy exports.