Gold prices drop as escalating Middle East tensions raise inflation concerns and oil prices soar, impacting financial markets.
Gold prices fell on Thursday as the
escalating Middle East conflict showed no signs of abating,
erasing recent optimism over easing inflation and fuelling
concerns that surging oil prices could lead to interest rate
hikes.Spot gold was down 0.6% at $4,034.42 per ounce by 0349
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