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Gold slips as US.-Iran tensions spark inflation, rate hike fears
Gold prices fell on Monday as fresh U.S.-Iran tensions lifted oil prices and sparked fears of inflation, bolstering expectations of higher interest rates. Spot gold slid 1.03% to $4,045.95 per ounce by 8:51 a.m. ET (12:51 GMT), while U.S. gold futures for August delivery fell. Prices hit a more than seven-month low last week. "The market is attuned to Middle East headlines, (with) some uptick in tensions over the weekend and still adjusting to a more hawkish Fed tilt," said Peter Grant, vice president and senior metals strategist at Zaner Metals. On Sunday, Iran launched missiles and drones at U.S. military sites in ... (full story)
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Gold price (XAU/USD) declines to around $4,015 during the early Asian session on Tuesday. The precious metal extends its downside as inflationary pressure raised expectations that central banks would keep interest rates higher for longer. CNBC reported on Monday that the United States and Iran are set to hold fresh talks on Tuesday in Doha, Qatar, following ...
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