Gold extends losing streak as oil rally fuels rate-hike fears

Gold prices hovered near $4,140 per ounce on Wednesday, extending their losing streak to four sessions as rising oil prices reignited inflation concerns and strengthened expectations of tighter monetary policy. Persistent geopolitical tensions and fears of supply disruptions continued to support safe-haven demand, but a firmer dollar and elevated bond yields limited bullion?s appeal. Gold has remained trapped within a $168 range of $4,091?$4,259 so far this month, with a breakout potentially setting the next directional move. Investors are also eyeing next week?s Federal Reserve and Bank of Japan decisions for fresh policy signals. On the domestic front, MCX December gold futures fell 0.4% to ₹145,967 per 10 grams.

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