Gold prices slipped slightly on Monday as diminishing expectations of near-term US interest-rate cuts weighed on investor sentiment. However, a weaker dollar and softer US Treasury yields helped prevent a sharper fall. Markets remain focused on the escalating Middle East conflict, with the US-Israel war with Iran entering its third week and keeping crude oil prices above $100 per barrel. The disruption risk around the Strait of Hormuz has intensified supply concerns in global energy markets. Investors are also awaiting the US Federal Reserve’s upcoming policy decision, where interest rates are expected to remain unchanged, for fresh cues on inflation and monetary policy direction.