Gold and silver shed roughly $1.05 trillion in combined market value on Monday as expectations for a Federal Reserve rate hike, rising bond yields and a stronger dollar pressured the metals. Gold fell 2.9% to near $4,160, slipping below $4,200 for its lowest level since early August, while silver dropped 4.97% to about $61.11. CME FedWatch put the chance of an October hike at roughly 70%. The 10-year Treasury yield reached 5.20%, and the US Dollar Index (DXY) climbed to 101.39, a two-month high. Stalled US-Iran talks also lifted Brent crude to about $107, adding to inflation concerns and rate-hike bets. Technical analysis points to a potential gold target near $3,943 and a silver target near $54.51, although closes above key resistance levels would weaken the bearish outlook. US labor-market data, culminating in Friday's nonfarm payrolls report, will be the next major market test.