Gold Prices Fall Below $4,000

Arabic - Gold extended its losses amid the ongoing escalation of tensions in the Middle East, heightening inflation concerns and creating uncertainty around the trajectory of US interest rates.

Niko Tzabaras, a market analyst at Tradeweb, which is owned by Jefferies, said: “Gold remains influenced by inflation and geopolitical developments. The ongoing US strikes on Iran and disruptions in the Strait of Hormuz are supporting oil prices and keeping inflation risks alive.”

High energy prices are fueling inflation concerns, which in turn bolster expectations of interest rate hikes, reducing demand for gold as a yield-free safe haven.