Gold slips as war-driven inflation fuels rate hike bets
Spot gold fell 0.7 percent to 4,452.09 dollars per ounce as intensifying Middle East hostilities raised energy costs and inflation expectations. Investors are weighing the impact of higher interest rates and a stronger dollar ahead of key U.S. nonfarm payrolls data due this Friday.
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Gold fell 0.7% to $4,452.09 on Wednesday morning as escalating Middle East hostilities fueled expectations for prolonged high interest rates. Prices slipped after Iranian attacks on Kuwait damaged an airport and triggered United States military strikes. Investors are pivoting toward the dollar as war-driven energy costs threaten to keep inflation elevated.
