PRECIOUS METALS | Gold Prices Fluctuate Amid Middle East Tensions and Inflation Concerns

Gold prices experienced volatility as they briefly fell below $5,000 per ounce due to concerns over inflation sparked by Middle East tensions. According to RTHK, the potential for interest rates to remain high for an extended period offset the downward pressure on the dollar and the demand for safe-haven assets, which typically support gold prices. Spot gold dropped to $4,966.39 per ounce, marking a 1% decline and reaching a nearly one-month low. It later hovered around $5,005 per ounce, narrowing the loss to approximately 0.3%. Meanwhile, New York April gold futures settled at $5,002.2 per ounce, down about 1.2%.