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Gold drops below $4,300 as dollar becomes top safe haven amid inflation and geopolitical tensions

Market News
23 Mar 2026
Benzinga
View Source
Bearish
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Gold prices fell sharply, dropping below $4,300 after hitting a record high of $5,590 in January, erasing all 2026 gains. The decline is driven by rising oil prices fueling inflation and boosting the dollar and Treasury yields, making gold less attractive since it pays no yield. Analysts note the dollar has overtaken gold as the preferred safe haven during current geopolitical conflicts. Future gold price movements remain uncertain, with some predicting further declines while others hold out for a rebound if economic conditions shift.

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