Gold prices tumbled on Monday after registering a record high in Asian trading, as the dollar climbed higher despite easing concerns about the outlook for interest rates.
Gold prices rallied to an all-time high of $2,151.20 earlier, buoyed by hopes the Federal Reserve will cut rates sooner than expected.
Fed Chair Jerome Powell's remarks last week that inflation is moving in the right direction helped as well.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.