Gold Falls Below $4,000 as Fed Rate Hike Signals Surge
Gold slid below $4,000 an ounce on Monday after Fed Governor Christopher Waller signalled that policymakers may need to raise interest rates in the near term. Bloomberg metals reporter Jack Ryan also noted that oil prices and a renewed US blockade of the Strait of Hormuz are weighing on gold and silver markets. The surge in rate-hike expectations has put significant downward pressure on precious metals.
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