Gold Dives on Hawkish Fed Outlook and Higher Oil Prices

Gold prices have been slipping in recent days, reaching a two-week low on Monday. The decline is largely attributed to higher oil prices and a hawkish outlook from the Federal Reserve.

The US military's strikes on Iranian targets over the weekend led to an increase in oil prices, which in turn pushed up long-end Treasury yields. This has reignited worries about inflationary pressures that may prompt the Fed to raise interest rates.