Gold trading faces confusion as ounces decline

Gold prices declined on Monday at the start of the trading week, with the price of an ounce falling to around $4,068. Meanwhile, oil prices rose following renewed military clashes between the United States and Iran, which involved Iran launching missiles and drones at military sites in various locations. This comes amid expectations of interest rate hikes by the U.S. Federal Reserve, potentially reaching three increases this year, with a 77% probability in December.

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