Gold prices slide as Fed rate hike bets increase
Gold prices fell further on Tuesday as delays in reopening the Strait of Hormuz and pipeline closures in Saudi Arabia heightened inflation fears and expectations of U.S. interest rate hikes.

Gold prices moved lower on Tuesday, extending a slump from the previous day amid escalating disruptions in Gulf energy transport. The downward movement followed an extended delay in the reopening of the vital Strait of Hormuz shipping route, which has unsettled global commodity markets.[1][2]
Market pressures intensified following Saudi Arabia's decision to close its vital transport pipeline. The resulting supply constraints have stoked broader inflationary concerns, leading to increased bets on an upcoming interest rate hike in the United States.[1][2]



