Gold Slumps Below $4200 Amid Hawkish Fed Outlook and Mideast Tensions
The US Dollar (USD) Index remains above 101.00 in European morning trading, while Gold (XAU/USD) falls below $4,200 for the first time since early August.
This comes as investors weigh a hawkish Federal Reserve (Fed) outlook and escalating Middle East tensions.
President Donald Trump rejected Iran's proposal to end the conflict in the Strait of Hormuz, calling it unacceptable, while Iranian Foreign Minister Abbas Araghchi said they're open to 'real diplomacy' but ready to confront new US attacks.