Gold prices are falling as concerns of rising fuel prices stoke inflation worries on the back of the war between the United States and Iran. Spot gold prices fell by 3.3 percent to reach a more than seven-week low at $4,146.51 per ounce on Monday. Rising oil prices, a higher US dollar and Treasury yields stoked inflation concerns, creating further headwinds for the metal . This is the lowest level for gold values since August 5. US gold futures also fell by 3.3 percent to $4,178.40. Although gold is traditionally considered an inflation hedge, higher interest rates dent its appeal as investors prefer yield-bearing assets. “There might be no notable direct impact on regular people due to that.
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