Gold slips as oil prices advance, Fed rate-hike voices grow

Gold prices fell on Monday as an escalation in the Middle East war pushed Brent crude above $90 a barrel, heightening inflation concerns as several ​US Federal Reserve policymakers signalled that interest rate hikes may be ‌needed to curb price pressures. Spot gold was down 0.4% at $4,000.55 per ounce, as of 0058 GMT, after hitting a two-week low on Friday and posting a 2.5% weekly loss. ​ US gold futures for August delivery eased 0.3% to $4,005.9. Asian share markets ​were hesitant on Monday ahead of a packed week of major ⁠tech earnings that will further test investor faith in the AI momentum. Oil prices jumped 3%, with Brent surpassing $90 a barrel. The US said it had ​completed a ninth consecutive night of attacks against Iran after earlier announcing that at least two US military personnel were killed in Jordan, while U.S. allies in the region reported more ​Iranian attacks on Sunday.