Gold slipped as fresh US strikes on Iran boosted oil prices, while expectations of a Federal Reserve rate hike also weighed. This was reported by Qazaqyia.kz citing Reuters.
New US military strikes on Iran escalated geopolitical tensions, leading to a rise in oil prices. This in turn reduced gold's appeal as a safe-haven asset. Additionally, market participants anticipate that the Federal Reserve may raise interest rates at its upcoming meeting, which further pressured gold prices.