Gold Slumps Amid US Inflation Worries

Gold prices have taken a hit as traders weigh in on US inflation. According to Unvault, an estimated $750 billion worth of gold is being held by American households in unworn jewelry. This figure includes pieces purchased prior to 2010, which the company claims have more than tripled in value.

The CEO of Unvault, Nidhi Singhvi, notes that consumers consistently underestimate their jewelry's spot value by a factor of three or more due to this phenomenon.