Gold drops amid rate hike bets and Iran-Israel tensions
Global gold prices declined today due to concerns over tightening U.S. monetary policy and rising Treasury yields, with the spot gold price falling by 0.54% to $1,430.51 per ounce. This came after a strong U.S. jobs report boosted expectations of continued interest rate hikes, increasing the opportunity cost of holding gold. Additionally, military developments between Israel and Iran and rising oil prices have heightened fears of global inflation, impacting the precious metals market.
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