Gold Prices Plunge Over 3% as Safe-Haven Demand Wanes, Dollar Strengthens
Spot gold prices tumbled more than 3% on Monday, snapping a multi-day rally and marking the steepest single-day decline since early May. The drop pushed prices to their lowest level in nearly two weeks.
Several factors triggered the sharp selloff: easing U.S.-China trade tensions reduced the need for safe-haven assets, the U.S. dollar rebounded strongly, and investors moved to lock in profits after recent gains.
All eyes are now on the upcoming U.S. Consumer Price Index (CPI) report, a key inflation gauge that could heavily influence gold’s next move. Traders and investors are closely watching the data for cues on Federal Reserve policy, which remains a major driver for precious metals.
Stay tuned for real-time gold market updates, price movement analysis, and insights into major economic events shaping the future of gold.