Gold prices edged higher despite a rebound in oil prices following fresh US strikes on Iran and persistent concerns over inflation and higher-for-longer interest rates. New York gold futures rose 0.2% in early trading. Elevated crude prices have reinforced expectations that central banks may keep borrowing costs higher for longer, with markets now fully pricing in a quarter-point Federal Reserve rate hike by December for the first time. While gold is viewed as an inflation hedge, higher interest

Gold prices edged higher despite a rebound in oil prices following fresh US strikes on Iran and persistent concerns over inflation and higher-for-longer interest rates. New York gold futures rose 0.2% in early trading. Elevated crude prices have reinforced expectations that central banks may keep borrowing costs higher for longer, with markets now fully pricing in a quarter-point Federal Reserve rate hike by December for the first time. While gold is viewed as an inflation hedge, higher interest rates tend to weigh on the non-yielding metal.