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Gold prices decline amid US-Israel war with Iran as inflation concerns outweigh safe-haven demand

By

Megha Bahree

2h ago· 4 min readenNews

Summary

Gold prices have been declining despite global crises, contrary to historical patterns. Since the US and Israel attacked Iran in late February, gold fell from $5,303 per troy ounce on January 28 to $4,235. The price drop is attributed to soaring inflation raising concerns that central banks will not cut interest rates—and may even hike them—rather than seeking safe-haven assets.

Key quotes

· 4 pulled
In times of global crises, the price of gold shoots up as investors look at the yellow metal as a safe haven against inflation.
But that has not been the case this time.
Gold has been under pressure since the United States and Israel attacked Iran in late February, launching a months-long war.
That is because soaring inflation has raised concerns that central banks will not slash interest rates. They may even hike them to rein in prices.
Snippet from the RSS feed
Gold has been under pressure since the US and Israel launched a war against Iran in late February.

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