Gold slips as rising oil prices fuel fears of inflation

Gold prices faced short-term pressure during early Asian trading on Tuesday, easing toward $4,443 per ounce at the timing of publication as escalating Middle East tensions pushed crude oil higher and fueled fears of persistent inflation.

Spot gold slipped to $4,440.34 per ounce after holding near $4,454.68 earlier in the session.

A surge in energy prices following recent geopolitical military exchanges has reinforced expectations that the Federal Reserve may maintain a hawkish monetary policy path, adding near-term headwinds to non-yielding bullion.