Gold slumps over 1% as oil surge fuels rate hike bets
Gold prices fell more than 1% on Monday as a sharp rise in oil prices strengthened expectations that the U.S. Federal Reserve may keep interest rates higher to counter inflation risks stemming from escalating tensions in the Middle East.
July 13, 2026 (MLN): Gold prices fell more than 1% on Monday as a sharp rise in oil prices strengthened expectations that the U.S. Federal Reserve may keep interest rates higher to counter inflation risks stemming from escalating tensions in the Middle East. Currently, spot gold is down 1.03% to $4,065.87 an ounce as of [10:08 am] PST, according to data reported by Mettis Global. The decline came after renewed milit...