Gold Price Today Holds Near $4,409 After Four-Month Low as Oil, Rates Upend Safe-Haven Trade
Gold hovered near $4,409 an ounce Tuesday after plunging to a four-month low Monday, with spot prices down about 15% since the Iran conflict began Feb. 28. Gold-backed ETFs have seen $7.9 billion in outflows since then. Oil prices rose and the U.S. 10-year Treasury yield hit 4.37%, weighing on non-yielding assets. Gold dropped more than 8% at one point Monday after President Trump delayed strikes on Iran.