Gold Futures Fall 1% to 200-Day Low, First Since October 2023

XAU-1.04%
According to Jin10, gold futures declined 1% on June 8, slipping below the 200-day moving average for the first time since October 2023. The selloff was driven by fresh Middle East tensions between Israel and Iran, which heightened inflation concerns and reinforced expectations for further interest rate hikes, according to Saxo Bank analysts. Strong U.S. economic resilience combined with rising inflation expectations has created a challenging environment for gold, offsetting longer-term support from central bank purchases and reserve diversification.
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