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Gold drops amid Middle East tensions and rate concerns
Gold prices dropped globally on Monday, as spot transactions declined by 0.3% to approximately $4,362.60 per ounce, due to investors evaluating regional developments in the Middle East and their impact on inflation and interest rates. Tensions between Iran and the United States were prominent, with mutual threats from both sides, amid expectations of further tightening monetary policies by major central banks, which reduces gold's appeal as a safe haven. Other precious metals experienced slight fluctuations: silver increased by 0.2% to $66.37 per ounce, platinum decreased by 0.1% to $1,798.31, and palladium rose by 0.6% to $1,309.65.
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