Mumbai, March 9 -- Gold prices tumbled below $5,100 per ounce, weighed down by a resurgent U.S. dollar and diminishing prospects of imminent Federal Reserve rate cuts, even as the escalating Middle East conflict stoked safe-haven demand. Crude oil, in stark contrast, surged past $115 per barrel-its loftiest level since 2022-on mounting fears of supply disruptions through the Strait of Hormuz, compelling major producers including Kuwait, Iraq, and the UAE to pare output. The turmoil has already imperilled nearly a fifth of global crude and natural gas supplies, amplifying concerns over prolonged energy market volatility and rekindling inflationary anxieties worldwide. The U.S. dollar index breached 99.5, a three-month peak, underscoring inve...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.