JPMorgan Adjusts Price Target on Abbott Laboratories to $118 From $120

Tensions in the Middle East have escalated, sending Brent crude soaring over 4% to break above $113 per barrel. This has reinforced expectations of persistently high inflation, prompting central banks around the world to tighten monetary policy. As interest rates climb, the relative appeal of gold diminishes. On Thursday, gold prices plunged 2.8%, dropping below $4,050 per ounce. Analysts point out that precious metals are experiencing capitulation-style selling, and volatility may continue until after the Federal Reserve meeting.