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Gold prices decline amid fears of escalation in U.S. strikes against Iran
Gold prices decreased today, Wednesday, by up to 0.7% to approximately $4,025 per ounce, amid concerns over escalating US strikes against Iran and the potential for interest rate hikes to control inflation. These forecasts come amid reports that the US President is discussing expanding military operations beyond the current campaign, causing market anxiety and pushing oil prices higher for the third consecutive day. Conversely, expectations for interest rate hikes have diminished, with the likelihood of an increase in July dropping to 17% from previous 50%, as pressures on precious metals continue.
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