Why gold is falling even as US-Iran strikes rattle oil markets

Gold is once again caught between fear and yield. Fresh US-Iran strikes in the Gulf have pushed oil higher, reviving concern that energy costs could keep inflation sticky. Yet bullion is not getting much safe-haven help. Instead, traders are focused on what higher crude could mean for the Federal Reserve. Spot gold fell 0.7% to $4061.35 an ounce in early trade on Monday, while August futures slipped 0.5% to $4076.40. The metal is now on course for a fourth monthly decline, with losses of more than 10% in June. Oil shock revives inflation worries The latest pressure came after renewed military exchanges between Washington and Tehran over the weekend. Iran launched missiles and drones at US military sites in Kuwait…