Gold prices tumbled to a seven-month low as hopes for a U.S.-Iran peace deal faded, fueling inflation worries and increasing the likelihood of Federal Reserve interest rate hikes. Cleveland Fed President Beth Hammack indicated a willingness to raise rates if inflation persists. Investors are now keenly awaiting U.S. employment data for further clues on the Fed’s monetary policy direction.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets