Precious metals lose shine as markets embrace risk-on assets post government shutdown deal
Gold and silver prices have declined as traders opt for risk-on assets following a 45-day deal struck by the U.S. Congress to avert a government shutdown. Major stock indices initially showed positive momentum but have since pulled back. Traders have regained their risk appetite, with the NASDAQ up over 100 points and Bitcoin reaching its highest level since mid-August. The yield on the 10-year treasury also rose to its highest level since July 2007. Gold and silver have fallen to their lowest levels since early March. Market optimism is expected to be short-term, with interest rates and Fed hawkishness remaining key drivers in the coming weeks.