Gold prices plunged on Thursday as the dollar and bond yields surged after U.S. President Donald Trump's warning to hit Iran 'extremely hard' over coming weeks.Spot gold tumbled 2.9 percent to $4,621.81 an ounce while U.S. gold futures for June delivery were down 3.5 percent at $4,645.56.Oil prices jumped more than 7 percent, reviving fears of rising inflation and slowing economic growth, as Trump...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.