Gold prices tumbled on Thursday as the dollar climbed higher on safe-haven demand after data showing a bigger than expected increase in U.S. inflation fueled expectations about more aggressive policy tightening by the Federal Reserve at the upcoming policy meeting later this month.
The dollar index rose to a fresh 20-year high of 109.29 before paring some gains. Still, at 108.80, the index remains high up with a gain of nearly 0.8%.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com