Gold prices were slammed on Wednesday, tumbling more than 3% in a single session as Middle East tensions rattled global markets and reignited fears that surging oil prices could trigger another inflation wave.
What should have been a textbook safe-haven rally instead turned into gold’s steepest selloff in months, as traders braced for the Federal Reserve to turn hawkish again.
By mid-afternoon, spot gold was down 3.5% to $4,111.95 per ounce, its weakest level since March 23. August futures dropped ...
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