Hot Commodities: Gold dives near $4300; Down 6%

Gold futures drowned near $4300 per ounce on Monday, extending its sharp four-week decline as escalating Middle East tensions drove crude prices above the $100 mark, intensifying global inflation concerns. The surge in oil, fueled by fears of disruption in the Strait of Hormuz amid the ongoing U.S.-Israel conflict with Iran, has amplified cost pressures and clouded the global economic outlook. This has reinforced a hawkish stance among major central banks, with the Federal Reserve and its peers signaling prolonged higher interest rates and limited scope for cuts in 2026. A resilient U.S. dollar, supported by steady policy and firm inflation data, further weighed on bullion by raising its opportunity cost.

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