Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-06-24T12:53:57.000Z
What happened:Gold futures (GC=F) tumbled more than 2% on Wednesday to trade near $4,000 per troy ounce. What's behind the move:The precious metal declined as the US dollar (DX-Y.NYB) rose, and investors awaited a key inflation report due on Thursday. The Personal Consumption Expenditures (PCE) index is the Federal Reserve's preferred gauges of inflation. The report comes after Fed Chair Kevin Warsh reiterated last week that the central bank remains focused on bringing inflation down, remarks the market interpreted as hawkish. "The combination of higher bond yields, a firmer dollar, and expectations that policy rates may remain elevated for longer continues to challenge investor appetite for non-yielding assets," Ole Hansen, Saxo Bank's head of commodity strategy, wrote Wednesday. From a t
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