Gold Falls 0.7% Near $4,300 as Israel Strikes Iran and Jeopardizes April Truce
Updated
Updated · Bloomberg · Jun 8
Gold Falls 0.7% Near $4,300 as Israel Strikes Iran and Jeopardizes April Truce
3 articles · Updated · Bloomberg · Jun 8
Summary
Bullion slid as much as 0.7% to near $4,300 an ounce after Israel said it struck targets in western and central Iran, extending gold’s pullback.
The latest drop followed Tehran’s missile attacks, which Israel said it intercepted before retaliating, raising the risk that the fragile ceasefire agreed in early April could unravel.
Nearly 5% was wiped off gold last week during the region’s worst flare-up since that truce, showing haven demand has not offset the broader selloff.
U.S. rate-hike fears had already pressured bullion earlier Monday after a strong jobs report and higher Treasury yields increased the opportunity cost of holding gold.