Gold hovers near $4,000 amid cautious Asia

The global price of gold has decreased by 0.4%, reaching approximately $4,000.55 per ounce, after hitting its lowest level in two weeks. This decline comes amid escalating tensions in the Middle East and oil prices rising above $90 per barrel following the United States' recent wave of strikes against Iran. These developments occur amid growing concerns about inflationary pressures and hints from the U.S. Federal Reserve regarding the need to raise interest rates to control inflation, leading to a 0.3% drop in gold futures.

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