Gold falls on inflation worries

Gold prices declined by up to 1.2%, surpassing $4,140 per ounce, due to rising inflation and the likelihood of central banks increasing interest rates. This comes amid concerns about the impact of these factors on the precious metal. The decline is attributed to investors’ fears of ongoing inflation and escalated tensions in global markets, despite progress in talks between the United States and Iran. Silver prices also fell by over 2.8%, as markets monitor upcoming inflation data and its potential influence on monetary policy.

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