Gold prices fall on US inflation concerns
Gold prices dipped 0.3% to $5,160.82 per ounce after new US inflation data made a Fed rate cut look less likely, even as tensions in the Middle East keep simmering.
Higher borrowing costs and investors pulling back are making gold less attractive right now.
Gold's been bouncing around a bit
Gold's usually the go-to safe spot when things get rocky, and it's still up about 20% year-to-date.
But lately, it's been bouncing between roughly $5,100 and $5,250 per ounce as global uncertainty and dollar moves keep everyone guessing.
What's happening with other precious metals?
US inflation was under control before recent conflicts but is now back on investors' minds.
Oil prices are climbing thanks to Middle East disruptions, even with reserves being tapped.
It's not just gold: silver dropped 0.8%, with platinum and palladium also sliding this week.