Gold Price Today Falls Despite Iran Risk as Dollar Firms, Fed Cut Bets Fade
Gold prices fell 0.3% Thursday, with spot bullion at $5,159.04 an ounce as a stronger dollar and reduced expectations for U.S. rate cuts outweighed safe-haven demand. U.S. consumer prices rose 0.3% in February, keeping pressure on the Federal Reserve to hold rates higher. Toronto’s materials sector dropped 1.7% as gold miners declined. Futures now suggest the first Fed rate cut in September.