Gold price jumps 2% back toward $5,000 as geopolitics, Fed minutes jolt bullion
Gold prices jumped 2.4% to $4,992.11 an ounce Wednesday after peace talks between Ukraine and Russia stalled and U.S.-Iran negotiations showed little progress. The rebound followed a sharp drop Tuesday, when spot gold hit a one-week low. U.S. April futures settled at $5,009.50. Investors await Friday’s U.S. PCE inflation data for clues on Federal Reserve policy.