Gold prices slip on oil strength and rate hike fears
Spot gold fell to 4,534.29 dollars as rising oil and interest rate fears weighed on sentiment. The metal is on track for a second consecutive weekly decline.
Gold fell 0.2% to $4,534.29 per ounce overnight, heading for a second consecutive weekly decline. Rising crude prices and persistent inflation fears are pressuring the metal as investors brace for hawkish interest rate paths. The move reflects a 0.1% drop for the week as safe-haven demand shifts toward energy markets.
### Oil Volatility and Geopolitical Friction Crude futures rose more than $1 in early trade on May 22. Investors remain skeptical regarding a breakthrough in peace talks involving Iran. While United States Secretary of State Marco Rubio noted positive signs in discussions, Tehran's uranium stockpile and control of the Strait of Hormuz remain primary obstacles.
