Commodities
Gold Prices Plummet to One-Month Low Amid Rising Interest Rate Expectations
Gold prices fell to their lowest level in over a month on Monday, hitting $4,253.54 per ounce.
The decline was triggered by a combination of factors, including escalating Middle East conflicts, surging oil prices, higher-than-expected inflation data, and a surge in the probability of Fed rate hikes.
According to the CME FedWatch tool, the probability of a rate hike this week is about 93%.
The sharp rise in prices has driven up inflation expectations, leading major central banks to implement stricter monetary tightening measures, which is negative for gold.