Gold, silver price today: International gold tumbles over 2% after hitting two-week high

Global gold prices witnessed a sharp correction after climbing to a two-week high in the previous session. Spot gold dropped more than 2% to around $4,043 per ounce during US trading, after earlier touching its highest level since July 7. Silver also came under pressure, with spot prices declining nearly 4%. Analysts said the decline reflected changing market expectations rather than a reduction in geopolitical risks. Instead, higher oil prices strengthened inflation concerns, prompting investors to anticipate tighter monetary policy. The correction highlighted how macroeconomic factors such as interest rates and inflation expectations can outweigh traditional safe-haven demand for gold.