December gold futures fell to $4,293.20 per troy ounce by 7:04 a.m. ET Thursday, after opening at $4,324.40. The article linked the decline to mounting inflation concerns, citing Treasury yields at their highest since 2007 and Brent crude above $104 a barrel.
The article also cited a rising dollar index, hawkish Fed comments, stalled U.S.-Iran negotiations, President Trump's remark that he could “annihilate” Iran, and reports the U.S. was considering a diesel-export ban. It said these factors contributed to expectations that the Fed may not be done raising rates this year.
Gold's year-over-year gain was 13.9%, described as its smallest in more than a year, compared with 95.6% on Jan. 29. The article said gold and oil prices had moved in opposite directions since the war in Iran began and that the divergence was expected to continue.
