India, March 9 -- Gold prices traded lower on Monday, with a firmer dollar and weakening expectations of an early interest rate cut by the U.S. Federal Reserve weighing on the precious metal.
Spot gold was down a little over 1 percent at $5,117.39 an ounce while U.S. gold futures were down 0.6 percent at $5,127.05.
Investors are recalibrating their portfolios amid a surging greenback as the Iran-Israel-U.S. war entered its 10th day and the Strait of Hormuz, a critical trade route, remained shut for the sixth consecutive day.
Iran fired its first missiles towards Israel today following the appointment of Ayatollah Mojtaba Khamenei as the Islamic Republic's new supreme leader.
On Sunday, Iran pressed attacks on neighboring Gulf states, wi...