Gold Plummets Below $4,300 On Inflation, Rate Hike Jitters

Spot gold plunged 4.7% to $4,279.27/oz, after an intraday low of $4,099.55, while U.S. gold futures fell 6.4% to $4,315.54. The sell-off is attributed to inflation and rate-hike fears, signaling heightened risk-off positioning and pressure on bullion and related mining equities.

Analysis

Spot gold plunged 4.7% to $4,279.27/oz, after an intraday low of $4,099.55, while U.S. gold futures fell 6.4% to $4,315.54. The sell-off is attributed to inflation and rate-hike fears, signaling heightened risk-off positioning and pressure on bullion and related mining equities.