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Gold Plummets to 8-Month Lows on Hawkish Fed and Rising Yields

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The Story

News Summary

  • Gold plummets near an eight-month low, heading for its worst quarter in decades.
  • Strong economic data, sticky inflation, and high Treasury yields support a hawkish Fed, while upcoming balance sheet reductions further damp demand for the non-yielding asset.
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XAUUSD price history

4408.90 -4.49% over the displayed period

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