Gold has fallen below $4,150, down roughly 3.2% from the previous close, marking one of its sharpest daily drops in recent months.
The selloff comes as higher oil prices and rising inflation concerns strengthen expectations for another Fed rate hike, pushing bond yields higher and making non yielding gold less attractive.
This is a notable reversal for gold, which had been trading near record levels earlier this year.
$XAUT
The selloff comes as higher oil prices and rising inflation concerns strengthen expectations for another Fed rate hike, pushing bond yields higher and making non yielding gold less attractive.
This is a notable reversal for gold, which had been trading near record levels earlier this year.
$XAUT
