Spot gold prices recently dropped by more than 1%, reaching a level of approximately $4,355.85 per ounce. On September 10, the asset hit an intraday low of $4,323.78.
The decline follows a rise in oil prices caused by supply disruptions in the Middle East. These market shifts have intensified concerns regarding inflation, which may lead the Federal Reserve to keep monetary policy tight or increase interest rates.
Current market data indicates a lower probability of substantial gains for gold by the end of December. Investors are now monitoring upcoming Federal Reserve meetings and geopolitical developments in the Middle East for further impact on pricing.
