Gold prices fall Rs 3,500/10 gram in 2 days, silver down Rs 8,700/kg as oil hits $100 again. Time to sell precious metals?

Gold prices fell Rs 3,500 per 10 grams and silver declined about Rs 8,743 per kg on MCX over two consecutive sessions, as a stronger US dollar, rising 10-year Treasury yields and a 7% jump in Brent crude above $100 a barrel weighed on bullion. Geopolitical tensions escalated after Trump threatened Iran over Houthi attacks on Saudi oil tankers in the Red Sea, while traders are pricing in an 81% chance of a US rate hike in September. Experts advise long-term investors to accumulate gold and silver on dips but warn traders to avoid long positions ahead of next week's FOMC meeting.