Gold Slides Toward $4,000 Amid Oil and Yield Pressures

Gold prices fell sharply after the release of May inflation figures showing consumer prices up 0.5% monthly and 4.2% annually. Core inflation rose 0.2% month-over-month and 2.9% year-over-year, while energy costs surged 23.5% from a year earlier. Higher Treasury yields and US-Iran tensions impacting oil supplies via the Strait of Hormuz weighed on precious metals despite some safe-haven interest.