Gold declines amid inflation concerns as Middle East tensions resurface
Gold prices fell today due to escalating tensions between the United States and Iran, which led to higher oil prices and increased fears of inflation and further interest rate hikes. The spot price of gold dropped to $4,060.46 per ounce, while futures declined to $4,069.80, amid expectations of a possible increase in U.S. interest rates in the coming months because of geopolitical tensions and market assessments of the likelihood of rate hikes in September and January 2027.
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