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Gold steady as conflict-driven inflation fears counter dollar softness
Gold prices eased on Monday, as concerns that inflation stemming from the Middle East conflict could keep interest rates higher for longer outweighed support from a softer dollar and safe-haven demand. Spot gold fell 0.4% at $4,998.69 per ounce, after hitting its lowest level since February 19 earlier in the session. U.S. gold futures for April delivery fell 1.1% to $5,004.90. The dollar pulled back from a 10-month peak, making dollar-priced bullion more attractive to holders of other currencies. “With higher oil prices comes higher inflation. If we do have higher inflation, central banks are not ... (full story)
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