Gold Price Tumbles Amid Surging US Yields and Iran-US Standoff
The price of gold fell by over 1.10% to $4,364 on Tuesday as US Treasury yields surged to near 2007 highs.
This surge in yields has put pressure on non-yielding assets like gold, which is why it's seeing a decline.
Additionally, energy prices are rising due to the ongoing deadlock between the US and Iran, keeping oil prices underpinned and inflation risks elevated.