Gold Slumps as Dollar, Fed Rate Outlook Offset War Risk Premium

Gold slumped more than 6%, weighed down by a stronger dollar, the prospect of less monetary easing and forced selling tied to an equities rout amid an escalating Middle East conflict. A gauge of the greenback rallied this week while bond yields advanced as traders scaled back their bets on the scope of interest-rate cuts by the Federal Reserve. Inflationary risks from surging energy prices as the Iran war intensifies may force the Fed and its global peers to hold rates steady or even hike them. Most Rea ...