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The Economic Times
The Economic Times
Business

Gold slides 3% as Middle East escalation fuels inflation, rate-hike concerns

Gold Inflation Iran US Federal Reserve Donald Trump Monetary Policy United States

Gold prices fell more than 3% on Wednesday as fears of a wider U.S.-backed war with Iran stoked concerns about interest rate hikes to curb rising inflation, with investors focusing on key U.S. data for clues on the monetary policy path.

Spot gold was down 3.3% at $4,123.89 per ounce by 11:40 a.m. EDT (1540 GMT), its lowest ‌level since ⁠March 23.

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