Gold slips below $4,100 as oil rally revives inflation fears

Gold prices fell below $4,100 per ounce on Thursday, surrendering the previous session?s gains as escalating Middle East tensions drove oil prices higher and reignited inflation concerns. Rising security risks in Saudi Arabia, including a deadly drone strike on an Aramco field, heightened fears of further supply disruptions. Meanwhile, expectations of a Federal Reserve rate pause next week remained largely intact, despite fresh signs of weakness in the US housing market. A softer dollar offered limited support to bullion, with investors also awaiting policy decisions from the European Central Bank and Bank of Japan. On the domestic front, MCX December gold futures declined nearly 1% to ₹144,899 per 10 grams.

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