Gold sinks in worst weekly drop since 1983 as Iran conflict spikes oil and hawkish policy bets
Gold fell about 11% for the week to around $4,497/oz from roughly $5,024 at the start, its steepest weekly drop since 1983, as the Iran conflict pushed oil above $100 a barrel and fueled bets on higher interest rates. A stronger dollar, ETF liquidations, and risk-off selling also pressured bullion, though some analysts warn the drawdown could be temporary if inflation and geopolitical risk persist.
