Gold Prices Tumble As US-Iran Tensions Revive Rate-hike Fears

Gold prices fell sharply due to a stronger dollar and rising global bond yields, driven by renewed Middle East tensions. The U.S. launched air strikes in Iran and revoked an oil waiver, escalating geopolitical uncertainty and fueling expectations of a Fed rate hike. Investors are now awaiting the Federal Reserve meeting minutes for further insights into the rate trajectory.