- Gold futures fell to nearly two-week lows as weekend U.S. military strikes on Iranian targets pushed oil prices higher.
- Higher long-end Treasury yields and renewed inflation concerns increased pressure on gold by strengthening the case for higher-for-longer Fed policy.
Quotes
“Gold futures fell to nearly two-week lows Monday as U.S. military strikes on Iranian targets over the weekend pushed up oil prices and long-end Treasury yields, reigniting worries about inflationary pressures that could make the Federal Reserve raise interest rates.”