Gold has dropped significantly as investors worry about inflation spurred by rising energy costs from the Middle East conflict. Wall Street analysts suggest the U.S. Federal Reserve may raise rates before year-end, adding pressure to precious metals. The decline reflects broader market uncertainty, with analysts pointing to a key 0.3% drop in spot gold prices.

This move underscores the sensitivity of commodities to geopolitical shocks and monetary policy shifts. Investors are closely watching how these factors will shape the precious metals sector moving forward.