Gold prices dipped as escalating U.S.-Iran tensions fueled oil price surges, sparking inflation worries and casting a shadow over the Federal Reserve's interest rate decisions. Investors are now keenly awaiting crucial U.S. economic data for further policy direction. Meanwhile, other precious metals like silver, platinum, and palladium also experienced declines.

Gold prices dipped as escalating U.S. actions in Iran sent oil soaring, sparking inflation worries and prolonging high interest rates. Despite ongoing diplomatic efforts, U.S.…

Gold prices fell on Tuesday after renewed US military strikes in Iran pushed oil prices higher, raising concerns that inflation could remain elevated and keep interest rates…