Gold prices declined on Monday as rising crude oil prices increased concerns over inflation and strengthened expectations that the US Federal Reserve could maintain a tighter monetary stance. Spot gold fell around 0.3% to $4,334.31 an ounce, while US gold futures declined 0.8%.
The fall came despite continued geopolitical uncertainty. Gold remains supported by its traditional safe-haven role, but higher interest-rate expectations can weigh on non-yielding assets. Investors are now watching the upcoming US Federal Reserve meeting closely.
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