Gold slides over 1% to $4,762.09 amid stronger US dollar
Gold prices slid over 1% on Monday, landing at their lowest point since April 13 earlier in the session.
The main reason? A stronger US dollar made gold more expensive for buyers worldwide.
Spot gold dropped to $4,762.09 per ounce, and US gold futures for June fell by 2%.
This all comes as global markets react to rising tensions between the US and Iran, which are also pushing up oil prices and fueling inflation worries.
US seizes Iranian cargo ship
The US recently seized an Iranian cargo ship, ramping up Middle East tensions and making investors uneasy.
With Iran refusing further talks before a cease-fire deadline on Tuesday, markets are feeling even more jittery.
On top of that, Federal Reserve Governor Christopher Waller suggested that if things calm down soon, we might see interest rate cuts later this year, showing just how much global events can shake up financial plans.