Gold falls amid rising oil prices and higher US dollar | Business and Economy News | Al Jazeera

Gold prices dropped by 3.3%, reaching a more than seven-week low at $4,146.51 per ounce, amid rising fuel prices and inflation concerns driven by the US-Iran conflict. The US dollar remained near a two-month high, and oil prices surged about 3% following President Trump’s rejection of an Iranian offer. Higher interest rates and Treasury yields have reduced gold's appeal as an inflation hedge, impacting investors who prefer yield-bearing assets, according to Sherif Othman of Poise Investment Advisors.