Gold futures fall 1% as a lack of progress in U.S.-Iran peace talks pushes oil prices higher, fueling concerns over prolonged disruptions and higher inflation; “markets are increasingly expecting higher interest rates to combat inflation risks tied to elevated energy prices, which is negative for non-yielding gold,” says Soojin Kim from MUFG, while “strong U.S. labour market data continues to support expectations that the Fed will keep rates elevated for longer,” and in early European trading, t

Gold futures fall 1% as a lack of progress in U.S.-Iran peace talks pushes oil prices higher, fueling concerns over prolonged disruptions and higher inflation; “markets are increasingly expecting higher interest rates to combat inflation risks tied to elevated energy prices, which is negative for non-yielding gold,” says Soojin Kim from MUFG, while “strong U.S. labour market data continues to support expectations that the Fed will keep rates elevated for longer,” and in early European trading, the move reflects ongoing sensitivity to energy-driven inflation pressures and interest rate expectations.