Gold Falls Toward $4,000 as Oil Spike and U.S. Inflation Risks Mount

Gold slips as oil-driven inflation fears dominate the session

Gold is trading defensively after renewed US-Iran tensions pushed oil prices higher, revived inflation concerns, and lifted Treasury yields. With Fed officials sounding more hawkish and U.S. CPI due later today, the near-term setup for XAUUSD remains fragile. For a broader view, see the gold weekly report and the recent note on the dollar index.