20.10.202601:39:14UTC+00Gold Slides for Third Straight Session

Gold prices slipped toward $4,100 per ounce on Tuesday, extending losses for a third consecutive session as elevated oil prices stoked inflation worries and strengthened expectations of tighter monetary policy. The metal also came under pressure from a firmer US dollar and higher bond yields.

Oil prices held steady at elevated levels amid ongoing conflicts in the Middle East and Eastern Europe, while Iran continued to assert control over the Strait of Hormuz, a key chokepoint for global energy shipments.

In the United States, the Federal Reserve is widely expected to leave interest rates unchanged at its meeting next week, with markets assigning roughly a 94% probability to another rate increase in December. In the euro area, the European Central Bank is anticipated to deliver at least one more 25-basis-point hike this year in response to persistent inflationary pressures.

Meanwhile, Bank of Japan Governor Kazuo Ueda said underlying inflation was “quite close” to the central bank’s 2% target, signaling that further monetary tightening remains a possibility.