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Gold prices fall sharply amid Middle East tensions and rising U.S. interest rates, marking worst week in 40 years.

Market News
23 Mar 2026
Benzinga
View Source
Bearish
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Gold prices dropped nearly 4% to around $4,320 an ounce, falling for a fourth consecutive week due to escalating U.S.-Iran tensions and rising U.S. Treasury yields. Despite gold's usual safe-haven appeal during crises, higher real yields and a stronger dollar have made bonds more attractive, reducing gold's demand. The Federal Reserve's decision to keep interest rates steady amid inflation concerns linked to rising oil prices further pressures gold prices. However, central banks continue to buy gold, and major banks like J.P. Morgan forecast a strong rebound later in 2026.

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