Gold Update

Gold prices fell more than 1% on Monday, pressured by a stronger dollar and fading hopes of U.S. Federal Reserve interest rate cuts.Spot gold fell 1.2% to $4,620.68 per ounce by 0047 GMT. U.S. gold futures for April delivery lost 0.7% to $4,647.10. * The 10-year U.S. Treasury yield and the dollar index rose, pressuring greenback-priced bullion. U.S. President ‌Donald Trump ⁠threatened to ⁠rain “hell” on Tehran if it did not reopen the Strait of Hormuz by Tuesday, a critical route for global oil shipments.However, recent U.S. intelligence assessments suggest Iran is unlikely to reopen the strait any time soon, per three sources familiar with the matter. * Oil prices opened higher on Monday and held above $110 per barrel, as the U.S.-Israeli war with Iran continued to disrupt global energysupplies.* ⁠The surge ‌in crude prices have heightened concerns about rising inflation. While gold is traditionally seen as a hedge against inflation, elevated interest rates tend ⁠to dampen demand for the non-yielding asset