Gold falls amid rising oil and inflation worries
Gold prices declined on Monday, amid rising oil prices and growing concerns over inflation due to escalating conflict in the Middle East, with Brent crude surpassing $90 a barrel. The spot gold price fell by 0.4% to $4,000.55 per ounce, marking a 2.5% decrease for the week, amid expectations that interest rate hikes may be necessary to curb inflationary pressures. At the same time, oil prices surged significantly, and other precious metals also gained, with silver rising by 0.9% and platinum by 0.1%.
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