Commodities
Gold Prices Plummet to $4,292 as Fed Hike Odds Surge
Gold prices plummeted to $4,292.13 per ounce on Monday, breaking below the closely watched $4,300 level.
The odds of a Federal Reserve rate hike this week have risen to 89%, up from 67% last week.
Brent crude has also climbed above $108, keeping inflation risks firmly in focus.
Gold's long-term prospects are still intact, but its short-term structure has weakened.
The key question now is whether $4,300 becomes a ceiling or a launchpad for gold prices.