Gold Price Dips Amid Stronger Dollar and Ongoing Geopolitical Tensions

Gold prices have plummeted by 1.85% to $4,355 as the U.S. dollar continues to strengthen following hawkish comments from Fed Chair Kevin Warsh at the Jackson Hole Symposium.

The remarks have increased expectations for a U.S. rate hike in September, making it more expensive to hold gold and driving down its price.

Renewed U.S.-Iran tensions have also contributed to higher oil prices and intensified inflation concerns, further pressuring gold demand.