Gold drops to two-week low

Gold has declined by 23% since the start of the U.S.-Israeli war against Iran in February, with its prices continuing to fall to the lowest level in two weeks due to a rising dollar and expectations of a rate hike by the U.S. Federal Reserve. This comes amid conflicting talks between Washington and Tehran over the handling of frozen funds and the nuclear deal. The expectation of interest rate hikes increases the cost of holding gold, as the dollar reaches its highest levels in over a year, reducing its appeal as a hedge against inflation. Additionally, the decline in other precious metals like silver and platinum reflects the impact of the rising dollar and growing prospects of U.S. interest rate increases.

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