Gold falls over 2% on fading hopes for Fed interest rate cuts this year

From kitco.com

Gold prices fell more than 2% on Thursday, as crude prices once again rose above the $100 mark, reigniting concerns of rising inflation, with investors mostly pricing out any chance of U.S. interest rate cuts this year. Spot gold was down 1.4% at $4,441.21 per ounce ​by 1213 GMT after falling more than 2% earlier. U.S. gold futures for April delivery lost ​2.5% to $4,439.80. Oil rose about 3% on Thursday, clawing back losses from the ⁠previous session on concerns that protracted fighting in the Middle East will further disrupt energy ​flows.The conflict in Iran and its potential negative impact on the global ... (full story)