Gold Gains Amid Weak Dollar and Middle East Tensions

Gold prices rose slightly amid a weak dollar and escalating tensions in the Middle East. The spot price of an ounce reached $4,372.19, while futures declined to $4,416. Investors are monitoring upcoming US inflation data scheduled for this week, as the likelihood of interest rate hikes affects the attractiveness of the metal as an inflation hedge. Additionally, military activities in the region—including Houthi attacks on Saudi Arabia and US military operations against Iran—have driven oil prices higher, putting upward pressure on inflation and influencing gold price trends. The market anticipates potential further changes in interest rates, supported by ongoing supply constraints and strong demand for other precious metals such as silver and platinum in the long term.

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