Gold tumbles to two-month low as inflation hedge status fades

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Gold prices fell to a two-month low on Thursday, as renewed uncertainty over the trajectory of the U.S.-Iran war gave the dollar a boost and drove oil prices higher. At 3:43 a.m. ET, spot gold was trading around 1.6% lower at $4,385.85 an ounce. Front-month U.S. gold futures were down 1.3% to settle at $4,389.70. The move put spot prices at their lowest since March 26. The gold sell-off came as the U.S. dollar edged higher, making gold priced in the greenback more expensive for international

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Gold tumbles to two-month low as inflation hedge status fades https://www.cnbc.com - 28.05.2026 08:51

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Gold tumbles to two-month low as inflation hedge status fades https://www.cnbc.com - 28.05.2026 08:51