Gold and silver prices declined on Wednesday, with silver posting the sharper loss of the two metals. COMEX gold futures slipped 0.33%, while silver fell 1.39%.

The move came as market participants weighed movements in US Treasury yields, oil prices and the outlook for interest rates — the key factors highlighted by CNBC-TV18 Markets.

Gold and silver are traded on COMEX, a commodities exchange operated by CME Group, where benchmark prices are set through futures contracts. Both metals are closely tied to expectations around US monetary policy, which is set by the Federal Reserve and depends heavily on incoming inflation and employment data: because bullion pays no interest, higher Treasury yields raise the opportunity cost of holding it, while expectations of easier policy have historically tended to support demand for precious metals. Silver, which serves both as a precious metal and as an industrial input — with demand drawn from sectors such as electronics and solar photovoltaics — frequently records larger price swings than gold.

Alongside rate expectations, investors in precious metals routinely monitor oil prices, inflation indicators and the US dollar, all of which influence trading in the bullion market. Energy costs feed into broader inflation readings, making oil a widely watched input for the rate outlook, while bullion's dollar pricing means currency swings also shape how the metals are valued by holders of other currencies.

For bullion traders, the near-term checkpoints are the scheduled releases of US inflation data and upcoming Federal Reserve policy decisions — the events around which expectations for Treasury yields and the dollar are typically recalibrated.

CNBC-TV18 noted that its article is for informational purposes only and should not be construed as investment advice, and that readers should consult certified experts before making any investment decisions.