Gold Prices Slip on Oil Spike and Fed Rate Hike Odds

Spot gold eased to around 4446.50 dollars per ounce, declining 0.18 percent, while silver climbed modestly to 66.36 dollars, gaining 0.16 percent. This movement came as tensions between the US and Iran boosted oil prices and lifted Treasury yields, following the Federal Reserve's hawkish signals from last week. Equity markets in North America and Europe declined, with Fed funds futures now implying a 66.1 percent chance of a September rate increase. Yields on the 10-year note rose to near 4.75 percent, and key data releases including job openings and employment figures are due this week. Technically, gold faces resistance around 4487 dollars with support near 4396. Brent crude exceeded 90 dollars per barrel amid supply risks in the Strait of Hormuz from recent military actions, adding to inflation concerns that cap precious metals gains.