Gold Hits 3-Month Low as Asian Tech Stocks Sink Again

AI desk brief

Gold extended losses to new 3-month lows, with London settlement briefly down to $4,058/oz, as Asian tech stocks sold off again and energy prices jumped on escalating US-Iran and Russia-Ukraine tensions. Platinum also hit a 3-month low at $1,577/oz, while palladium sank to its lowest since June 2025 and silver held just above last week’s 3-month low at $55.40/oz.

The move came despite a pullback in sovereign yields: 10-year Treasury yields fell to 5.04% and Bund yields to a 7-week low below 3.35%, though French, Italian and Greek borrowing costs rose sharply, with France’s 10-year OAT yield at a fresh quarter-century high above 5.11%. Gold has now erased August’s rebound, down more than 13% from its late-summer high and 27.2% from January’s record, while Shanghai gold also printed a 3-month low in yuan terms.