Gold hovers near $4,000 after steep drop, all eyes on Fed and Middle East risk

Gold prices held just below $4,000 per ounce on Monday, as markets weighed the prospect of another US interest rate increase while monitoring growing tensions in the Middle East. Spot gold traded close to $3,995 in the early Asian session, recovering slightly after dropping more than 4% last week—its sharpest weekly decline since June. Prices briefly hit $3,975.23 on Friday. Rather than triggering sustained safe-haven inflows, the deepening crisis involving Iran has pushed energy prices higher and reignited inflation concerns.

Source: CoinTurk News