In early trading, gold in Asia fell due to rising oil prices causing concerns about inflation.

Gold fell in early Asian trading. Spot gold fell by 0.7% to $5,141.13 per ounce. Bas Kooijman, CEO and asset manager of DHF Capital, said that the surge in oil prices has raised inflation expectations and pushed up US Treasury yields, which could continue to put pressure on gold. He said that persistent inflation could reduce expectations for Fed rate cuts, with current forecasts indicating only one rate cut later this year. Rising US Treasury yields often weaken the attractiveness of non-interest-bearing precious metals.