Gold Prices Decline Amid U.S.-Iran Exchange of Fire in Persian Gulf

Gold prices declined on Monday amid reports of military exchanges between the U.S. and Iran in the Persian Gulf, according to a report from @business. The incident occurred in the strategic waterway, where forces from both sides traded fire, as stated in the report. This development puts at risk a ceasefire that had been in place for four weeks.

The exchange has potential implications for global markets, with the report noting it could contribute to inflation risks. Gold, often seen as a safe-haven asset during geopolitical tensions, held its losses despite the event. No further details on casualties or specific outcomes were provided in the report.

Markets will monitor any escalations that could affect energy prices or broader economic stability.