Gold Plummets As Renewed U.S.-Iran Hostilities Raise Concerns Of Inflation, Fed Rate Hike

Extending last Friday's losses, gold prices have plunged on Monday amid fresh weekend escalation in the U.S.-Iran conflict, with Iran closing the Strait of Hormuz and driving crude oil prices higher. The consequent inflationary threats have rekindled concerns of a rate hike by the U.S. Federal Reserve.

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