Gold hits over 6-month low on rate-hike concerns amid Middle East conflict

Gold prices fell to their lowest level in more than six months as renewed US strikes on Iran pushed oil prices higher, raising concerns over inflation and prolonged high interest rates.

Spot gold slipped 0.2 per cent to US$4,063.87 per ounce, while US gold futures for August delivery fell 1.1 per cent to US$4,086.50.

Oil prices jumped more than US$2 after Iran declared the closure of the Strait of Hormuz, escalating fears of supply disruptions and inflationary pressures.

Recent US inflation data showed consumer prices rose at their fastest pace in three years, reinforcing expectations that the Federal Reserve may keep interest rates higher for longer.

Higher interest rates typically weigh on non-yielding assets such as gold, despite the metal's traditional role as an inflation hedge.

Read more: https://www.nst.com.my/business/economy/2026/06/1460311/gold-hits-over-6-month-low-rate-hike-concerns-amid-mideast
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Видео Gold hits over 6-month low on rate-hike concerns amid Middle East conflict канала NST Online