Market Turmoil: Middle East Escalation Triggers 5% Gold Slump and S&P 500 Sell-Off

Key TakeawaysGold prices plummeted 5% to $5,062.28 per ounce, reversing a four-day rally as traders weighed escalating Middle East hostilities against shifting Fed expectations.Israel intensified strikes across Iran, targeting strategic sites in Qom and Bushehr, while the IRGC threatened to retaliate against regional economic centers.Federal Reserve officials Williams and Schmid signaled a cautious stance on inflation, with Schmid warning that demand continues to outpace supply despite "hot" inflation data. ...