Gold falls below $4,400 on Iran tensions
Gold prices have dropped to a two-month low, falling below $4,400.
The decline is attributed to escalating tensions in the Middle East, which has boosted the US Dollar’s reserve currency status.
Fresh strikes in Iran and intercepted drones have heightened geopolitical risk, benefiting the Greenback and pressuring gold prices.
The situation has also led to a modest recovery in Crude Oil prices, fueling expectations of rate hikes due to energy-driven inflation concerns.