Fundamental News - XAUUSD

Gold prices tumbled to as low as $1,951 an ounce on Wednesday, a level not seen in a week, as a strong dollar and soaring Treasury yields spooked investors away from the non-yielding metal. Still, the global outlook remained clouded by the Russia-Ukraine war, which showed no signs of de-escalation, while rising inflation continued to boost gold's appeal as an inflation hedge. Gold climbed above $2,000 an ounce in March, approaching an all-time high of $2,075 touched in August 2020 on safe-haven demand stemming from Russia's invasion of Ukraine.