Surging US dollar overseas is adding immense pressure on gold and silver futures in early Asia on Monday. Mounting inflation risks and tighter monetary policy expectations push US Treasury yields higher, with the benchmark 10-year Treasury yield hovering near one-year highs and supporting the US Dollar's upward momentum. DXY is quoting well above 99 mark. Meanwhile, worries over Indian demand trends also played a part in pulling the precious metal lower after India drastically raised the effective import duty on gold and silver from 6% to 15%. The government has also capped gold imports under the Advance Authorisation scheme at 100 kilograms and tightened compliance and monitoring norms for importers in the gems and jewellery sector. COMEX gold is quoting at $4544.80 an ounce and silver is down sharply at $75.32 an ounce.

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