Gold slips as renewed Middle East tensions keep Fed hike bets alive
Bullion is still up around 10 per cent in August, heading for the biggest monthly gain since January
On Monday morning, Wall Street's primary indices started the trading day lower due to military clashes between the US and Iran, which led to a surge in oil prices. This situation heightened concerns about inflation as the Federal Reserve's interest-rate outlook became more aggressive.
The Dow Jones Industrial Average experienced a decline of 97.4 points, or 0.18%, opening at 53,462.6 points. Similarly, the S&P 500 dropped by 14.2 points, or 0.18%, at the opening, settling at 7,697.52 points. The Nasdaq Composite also saw a decrease, falling by 43.9 points, or 0.17%, to 26,358.559 points.
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