Gold declines as investors focus on inflation and interest rate expectations
Gold prices declined today by 0.5% to $4,035.67 per ounce after increasing by over two percent in the previous session, driven by rising oil prices that raised inflation concerns and impacted U.S. interest rates. This comes amid escalating U.S. efforts to impose a naval blockade on Iran and geopolitical tensions, which have caused oil prices to continue climbing to $87.3 per barrel for Brent. These factors heighten fears of inflation and place pressure on non-yielding gold.
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