Gold Tumbles as Soaring Energy Prices Dash Fed Rate Cut Hopes

Gold declined for a sixth day, its longest losing streak since late 2024, as surging energy prices and a hotter-than-expected inflation report added to speculation that the Federal Reserve will hold off from cutting interest rates this year. Bullion tumbled as much as 3.4%, reaching its lowest level in more than a month. Crude rallied on signs of escalation in the Iran war that puts more energy supplies at risk. The latest development in the Middle East conflict led to a selloff across risk assets, includ ...