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Gold (XAUUSD) Tumbles as Hawkish Fed Expectations and Strong Dollar Weigh on Metals

Reuters Read original source (opens in a new tab)
The Story

News Summary

  • Gold and silver prices dropped nearly 2% as a firmer US dollar and expectations of prolonged high interest rates pressured non-yielding assets.
  • Geopolitical tensions in the Middle East fueled inflation fears, reinforcing the likelihood of further Fed rate hikes, overshadowing gold's traditional appeal as a safe-haven asset.
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XAGUSD price history

65.19 -29.05% over the displayed period

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