Gold sinks 2% as Iran war fuels fresh inflation shock
The post Gold sinks 2% as Iran war fuels fresh inflation shock appeared on BitcoinEthereumNews.com. Gold price retreats by over 2.30% on Friday amid fears that prolonged hostilities between the US and Iran could trigger a second wave of inflation, forcing central banks to hike interest rates. The XAU/USD trades at $4,551 after bottoming at around $4,511. XAU/USD slides as yields surge and Fed cuts vanish US Treasury yields are soaring, with the 10-year T-note coupon hitting yearly highs at 4.591%, up 10 basis points and poised to challenge the 2025 high of 4.627%. The Greenback has followed suit, as shown by the US Dollar Index (DXY), which tracks the performance of the American currency against the other six, up 0.33% to 99.19. Overnight news of US President Donald Trump revealing that he’s losing patience with Iran pushed Oil prices higher, amid speculation of a resumption of hostilities. US inflation data released on Tuesday and Wednesday had erased the chances of the Federal Reserv