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Commodities

Gold Prices Plummet to $4,331 Amid Soaring Inflation and Rate Hike Speculation

Guavy AI Editorial Team
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Gold
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Gold prices dipped by approximately 0.4% to settle at $4,331 following stronger-than-forecast U.S. inflation figures.

Financial markets are now assigning an 88% probability to a Federal Reserve rate increase at this week's policy meeting.

The higher interest rates typically weigh on gold valuations because the precious metal generates no yield.

Despite near-term headwinds, several market analysts continue to hold optimistic views on gold's trajectory over extended time horizons.

ANZ Research continues to project a 12-month price objective of $5,400 per ounce for gold.

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