Gold Plummets 5.5% on Tuesday: Strong Dollar, Oil Surge, Bond Yields & Dow Drop Blamed

• Spot Gold prices fell by 5.5% from intraday highs on Tuesday, snapping a four-day winning streak and slipping below $5,100 an ounce.
• A strengthening US Dollar, with the index above 99, made gold more expensive for foreign investors, reducing its safe haven appeal.
• Rising Brent Crude prices (above $82) fueled inflation fears, leading to reduced expectations for US Federal Reserve rate cuts, negatively impacting gold.
• Increasing US 10-year bond yields (above 4%) diverted investors towards fixed-income assets over gold.
• A 1,200-point fall in the Dow Jones likely triggered margin calls, forcing some investors to sell gold to cover portfolio losses.