Commodities
Gold Prices Slide on Rising Oil Prices and Middle East Tensions
Gold prices dropped slightly on Tuesday as escalating tensions in the Middle East led to higher crude oil prices, sparking concerns about persistent inflation.
The spot gold price slipped to $4,440.34 per ounce after holding near $4,454.68 earlier in the session.
The rise in energy prices has reinforced expectations that the Federal Reserve may maintain a hawkish monetary policy path, adding near-term headwinds to non-yielding bullion.