The price of gold slipped on Wednesday below the $4,200 per ounce mark, hitting its lowest level since March 23.
This decline comes after fresh American strikes against Iran, launched following the destruction of an American helicopter, in a context of rising tensions in the Middle East.
This escalation has triggered a rise in oil prices, fueling fears of persistent inflation. It also undermines the existing ceasefire and reduces the prospects of a broader peace agreement, as the near-total closure of the Strait of Hormuz continues.
According to specialists, the energy price surge linked to the conflict rekindles market concerns about a possible continuation of monetary tightening by central banks. This prospect weighs particularly on non-yielding assets, such as gold.
According to the specialized platform Trading Economics, investors are also keeping an eye on the release of the upcoming inflation figures in the United States, expected as a key indicator to anticipate the next decisions of the US Federal Reserve.
We should also note that US employment data beating expectations has reinforced the expectations of a potential rate hike by the Fed before the end of the year.
