XAU/USD 
Hostilities between the US and Iran raise WTI, which rekindles inflation and Fed
markets price the likelihood of a year-end hike, ten-year rates rise. PMIs and employment data are left as catalysts by the Fed blackout. Monday saw a 0.19% decline in the price of gold as hostilities between the US and Iran continued after a brief ceasefire that was broken nine days ago. XAU/USD is currently trading at $4,011. Fears of an interruption in oil supplies have led to rising energy prices, which are impacting gold prices as the Middle East conflict intensifies. Iran attacked US military facilities in Gulf states, while the US bombed military targets close to the Strait of Hormuz for the ninth day in a row. Ansar *****, a political and military group with ties to Iran, announced a naval blockade of Saudi Arabia at the same time. According to the story, crude prices, namely the US benchmark West Texas Intermediate (WTI), reversed some of their earlier declines, moved upward, and are now up 0.33% at $82.05 per barrel. As a result, the US 10-year Treasury yield, which has an inverse relationship with gold, has increased by almost five basis points to 4.598%, which is detrimental to the yellow
100.94, the US Dollar Index (DXY), which measures the value of the US dollar relative to six other currencies, is up 0.19%. Philip Jefferson, the vice chair of the Federal Reserve (Fed), stated last week that if disinflation does not improve, he is willing to raise interest rates. Beth Hammack, the president of the Cleveland Fed, voiced alarm on Friday about the ongoing high rate of inflation, underlining that "inflation is too high." She pointed out that the labor market is strong, with steady consumer expenditure and strong growth. Although there is a nearly 79% possibility that interest rates will remain steady at the July meeting, money markets are pricing an 82% chance of an interest rate increase by year's end.
