Gold prices dropped to over a month’s low as rising oil prices and Middle East tensions fueled investor anxiety, pushing them away from the safe-haven asset. Higher energy costs are also raising inflation concerns, increasing the likelihood of prolonged elevated interest rates from the US Federal Reserve. Gold prices dropped to over a month’s low as rising oil prices and Middle East tensions fueled investor anxiety, pushing them away from the safe-haven asset. Higher energy costs are also raising inflation concerns, increasing the likelihood of prolonged elevated interest rates from the US Federal Reserve.
