Gold Retreats Amid Inflation Concerns and Interest Rate Hikes

Gold prices fell in early Asian trading on Monday amid growing concerns about inflation and expectations of interest rate hikes, against the backdrop of the latest developments in the Middle East.

Spot gold dropped 0.2 percent to $4,368.33 per ounce by 00:27 GMT.

US December gold futures also declined 0.4 percent to $4,406.70 per ounce.