The dollar showed strength as investors anticipated inflation data and central bank decisions this week. Oil prices increased due to ongoing US-Iran tensions, which raised concerns about energy supply. Analysts predict potential interest rate hikes from the Federal Reserve given current inflationary pressures. The Australian dollar is also expected to see a rate increase in a near-15-year high scenario.
Fed tightening bets weigh on gold prices
Gold prices have taken a hit, influenced by rising oil rates that have sparked inflation fears and suggested further interest rate hikes may be on