Gold prices fall nearly 3% after Fed's interest rate decision
Gold prices just dropped to their lowest in a month, slipping nearly 3% after the US Federal Reserve decided not to change interest rates.
The stronger US dollar and rising tensions in Iran also played a big part in pushing gold down.
What does this mean for gold prices?
If you're watching your investments or thinking about buying gold, this is worth noting.
The Fed's move means higher costs for non-US buyers and fewer chances of rate cuts soon, so gold might stay pricey for a while.
Plus, trouble in Iran is keeping oil prices high, which adds more uncertainty to the mix.
Why is gold falling?
It's mostly about inflation worries and the Fed's cautious approach.
Producer prices rose 3.4% year-on-year in February, and higher oil prices tied to the Iran conflict have added to inflationary pressure more recently, although the February increase is not presented as being directly caused by a specific Iran attack.
With market pricing showing a materially reduced probability of a June rate cut, and inflation still above target, even Fed Chair Jerome Powell acknowledged elevated uncertainty ahead.