Gold price slides below $5,000, drops to over one-month low
Spot gold continued to trade lower after the Federal Reserve’s latest policy decision on Wednesday, having hit a more than one-month low due to a stronger dollar and expectations for interest rates to remain higher for longer amid the ongoing Middle East conflict.
Spot gold fell 2.9% to $4,860.21 per ounce by 2:58 p.m. ET (1858 GMT), after hitting its lowest level since February 6 earlier in the session. U.S. gold futures for April delivery settled 2.2% lower at $4,896.20.
