Economic TimesLean R·
Gold slides over 1% as oil surges on Strait of Hormuz closure fears
Gold prices declined over one percent in early Asian trade Monday. Oil prices jumped sharply, increasing inflation concerns and interest rate expectations. U.S. and Iranian forces exchanged missile and drone assaults in the Gulf region. Federal Reserve chair testimony and economic data will offer policy clues. Gold speculators reduced net long positions while China increased its reserves.
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