Gold hits six-month low
Gold prices dropped to their lowest level in more than six months, declining by 0.2% in spot transactions to approximately $4,063.87 per ounce after reaching their lowest point since last November. This decline coincided with a rise in oil prices following U.S. strikes on Iran and growing fears of inflation, along with continued increases in interest rates. The escalation between the United States and Iran has heightened economic concerns and impacted the precious metal's prices, further influenced by rising oil prices and the U.S. Consumer Price Index, which increased the likelihood of interest rates remaining high until 2027.
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