Gold heads for worst month since 2008 as Fed rate-hike bets outweigh safe-haven demand

Gold prices are plummeting, heading for their worst monthly drop since 2008. Easing Middle East tensions and rising US interest rate expectations to combat inflation are driving the decline. Analysts suggest a strong dollar and higher rates are overshadowing gold’s traditional safe-haven appeal. Investors are now keenly watching upcoming US jobs data for further clues on the Federal Reserve’s monetary policy path.