Gold And Silver Prices Tumble As Rising Bond Yields Put Precious Metals Under Pressure

The declines marked another sharp reversal for metals that had posted strong gains earlier this year. (Credit: Getty Images)

Gold and silver prices fell sharply Monday as rising government bond yields added pressure to precious metals, sending gold futures down almost 4% and silver futures more than 5% lower during morning trading.

December gold futures traded around $4,115 an ounce Monday morning, down roughly 4%, while December silver futures fell to around $60.23 an ounce, a decline of more than 5%.