Gold Plunges Below $4,550 as Dollar Rally, Rising Yields Crush Haven Demand

Spot gold crashed below $4,550/oz on May 15, marking a 2.17% daily drop and weekly extension below $4,600 amid a U.S. dollar at multi-week highs (DXY >104.50) and 10-year yields near 4.5%, driven by hawkish Fed bets outweighing Iran tensions. Prices held above $4,700 early week after weak U.S. nonfarm payrolls (+115K vs. +185K expected) on May 8, but slumped 2.3% below $4,700 to $4,650 on May 11 following Trump's Iran peace rejection. Hotter CPI (+0.4% m/m headline/core vs. +0.3%) on May 12 boosted DXY and yields to 4.35%, pressuring gold despite brief stabilization near $4,700 ahead of Trump-Xi summit.