Gold Price Today Slides Below $4,900 to One-Month Low as Fed Bets Harden
Gold fell 2.6% to $4,874.19 an ounce Wednesday, its lowest since Feb. 6, as a stronger dollar and surging oil prices fueled bets the Federal Reserve will keep rates high. Brent crude jumped to $108.51 after strikes on Iran’s Pars gas field, while U.S. wholesale inflation rose 0.7% in February. Markets now expect only one Fed rate cut in 2026. Silver, platinum, and palladium also dropped sharply.