Gold Slides Below $4,800 as Dollar Prevails as Safe Haven Amid Hormuz Crisis Escalation

 Gold prices witnessed a notable decline of 0.8% today, Monday, with the spot price settling at $4,790.59 per ounce. This drop was driven by the strength of the US dollar and renewed inflation fears resulting from the sharp jump in oil prices following the Strait of Hormuz disturbances and the seizure of an Iranian cargo ship. Analysts noted that rising Treasury yields and expectations of tighter Federal Reserve monetary policy for 2026 have reduced the yellow metal's appeal compared to the greenback as the primary choice for investors amidst the ongoing conflict.