---
title: "Why Are Gold and Silver Down Today, 8/18/26?"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296260649.md"
description: "Gold and silver prices declined on August 18, 2026, driven by elevated U.S. Treasury yields, with the 10-year yield reaching 4.74%. Higher yields increase the opportunity cost of holding non-yielding precious metals and strengthen the dollar. Additionally, expired U.S.-Iran ceasefire negotiations raised inflation expectations and interest rate hike odds due to potential Strait of Hormuz disruptions, further pressuring gold and silver."
datetime: "2026-08-18T18:47:30.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296260649.md)
  - [en](https://longbridge.com/en/news/296260649.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296260649.md)
---

# Why Are Gold and Silver Down Today, 8/18/26?

Both gold (XAUUSD) and silver (XAGUSD) are trading lower on Tuesday as Treasury yields remain elevated. This morning, the 10-year Treasury yield climbed to 4.74%, marking the highest rate since January 2025. The 30-year yield moved even higher to 5.31%, a level not seen since the 2007 global financial crisis.

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Higher yields make interest-bearing Treasuries more attractive relative to gold and silver, as they don't yield interest. Stronger yields can also support the U.S. dollar, making precious metals more expensive for foreign buyers.

## **U.S.-Iran Tensions and Higher Yields Weigh on Gold and Silver**

Another factor driving gold and silver lower is ongoing tensions between the U.S. and Iran. On Monday, the 60-day ceasefire negotiation window between the two countries expired. That points to a longer-than-expected war and the possibility of an even longer closure of the Strait of Hormuz. The waterway handles roughly 20% of global oil flows, with restricted traffic driving up energy prices.

Higher oil prices have boosted inflation expectations and raised interest rate hike odds. Unfortunately, gold and silver tend to benefit during periods of low rates. Pressure on the two metals could persist if yields and rate expectations remain elevated, keeping the opportunity cost of holding non-yielding assets high.

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