Gold Drops Below 4658 as Oil Jumps and Inflation Fears Take Over

Geopolitical tension is bullish on gold but oil inflation flips it

Gold slipped 1.2% to about $4,657.89 an ounce as stalled U.S.–Iran peace talks boosted crude oil prices. Instead of lifting gold, the oil-driven inflation worry appears to be steering markets toward higher-for-longer interest rates. With gold increasingly reacting to rate expectations and energy costs, investors are watching whether oil’s rise keeps pressuring prices.