Gold falls amid US-Israel war on Iran
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Gold prices fell on Monday due to a stronger dollar and elevated oil prices caused by the US-Israel war on Iran. The surge in crude prices has stoked concerns about inflationary pressures, dampening hopes for interest rate cuts by the Federal Reserve.
Gold prices fell 0.5 percent to $4,652.89 per ounce. The stronger dollar and elevated oil prices due to the US-Israel war on Iran pressured gold. US nonfarm payrolls increased by 178,000 jobs in March, and the unemployment rate fell to 4.3 percent. The 10-year US Treasury yield and the dollar index gained. Brent oil prices climbed due to the war disrupting global energy supplies. Spot silver, platinum, and palladium also saw changes, with silver falling 0.9 percent and platinum shedding 0.6 percent.
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