Gold spot prices fell 1.19% to $4,072.06 per ounce and Gold Futures slipped 0.81% to $4,080.22 an ounce on Monday, extending losses after a 1.3% decline the previous week. The decline followed renewed U.S. strikes on Iranian targets, which pushed oil prices up roughly 3% as concerns grew over potential disruptions to crude flows through the Strait of Hormuz, a route that carries about one‑fifth of global oil supply. Market participants are now focused on the upcoming U.S. consumer price index report and Federal Reserve Chair Kevin Warsh’s first congressional testimony, both seen as critical for gauging future interest‑rate direction; a stronger‑than‑expected CPI could reinforce expectations of additional Fed rate hikes, further pressuring non‑yielding assets like gold. This content may not be financially relevant.