Gold falls as oil prices and Iran tensions fuel inflation
Gold dropped to $4,716.03 as high oil prices sparked inflation fears. Markets expect high interest rates to persist amid stalled U.S.-Iran peace negotiations.
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Gold fell 0.5% to $4,716.03 on Thursday as energy-driven inflation fears pressured bullion. Prices dropped after Brent Crude Oil climbed above $100 per barrel following supply disruptions in the United States. Higher oil costs increase the probability of the Federal Reserve maintaining elevated interest rates for longer.
