Gold falls amid rising oil and rate hike bets

Gold prices declined during today's trading session, influenced by rising oil prices and escalating tensions between the United States and Iran, which heightened concerns about inflation and expectations of a rate hike by the American Federal Reserve. The spot price of gold fell to $4,040 per ounce, with market forecasts indicating the possibility of three interest rate increases by the Federal Reserve this year, as investors await U.S. employment data to gauge monetary policy direction. While gold prices are heading toward a fourth consecutive monthly loss, investors continue to monitor the trajectory of geopolitical tensions, oil prices, and their combined impact on inflation and interest rates.

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