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Gold Prices Decline as Dollar Rises and Inflation Concerns Resurface
Gold prices slightly declined due to the strength of the US dollar, amid escalating military tensions between the United States and Iran, and rising oil prices which heightened inflation concerns and led to expectations of prolonged higher interest rates. Spot gold fell by 0.5% to $1,405.81 per ounce, while futures decreased by 0.4% to $1,406.72, continuing to be affected by the dollar's rise, which remained near its 13-month high. Additionally, the Federal Reserve's meeting minutes revealed a divide over the need to raise interest rates, although the overall stance leans towards not easing significantly.
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