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Commodities

Gold Prices Plummet as US Treasury Intervention Takes Toll

Guavy AI Editorial Team
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Oil Gold Copper
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Gold prices dropped on Tuesday after reaching a three-month high as investors assessed the impact of US Treasury intervention in the bond market. The rally was driven by rising trade and geopolitical tensions, which continued to support demand for bullion.

The price of WTI crude oil trimmed its intraday gains after Pakistan's interior minister announced 'significant progress' in peace talks with Iran. Crude prices had fallen sharply on Monday due to improving shipping activity through the Strait of Hormuz.

Copper futures slid towards $6.55 per pound, retreating from recent highs as a sharp rise in exchange inventories eased concerns over near-term supply tightness.

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