US-Iran Tensions Spark Oil Price Rally Amid Inflation Concerns
Oil prices surged on Monday after the US carried out targeted strikes against Iran, sparking concerns about escalating tensions in the region.
The strikes, which drew retaliatory strikes from Iran, led to a sharp increase in crude oil futures, with some market analysts attributing the move to rising geopolitical risks.
Meanwhile, gold prices came under pressure on Friday after Federal Reserve Chair Kevin Warsh signaled that policymakers remain focused on returning inflation to the 2% target.