%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Gold's price continues to decline as hopes fade for the U.S. Federal Reserve to lower interest rates this year. Fears that surging crude oil prices will lead to a rise in inflation have hurt expectations for interest rate cuts in the near-term, exerting downward pressure on gold's price. Lower interest rates tend to benefit non-yielding assets such as gold bullion. Gold is currently trading right at $5,000 U.S., down from an all-time high of $5,589.38 U.S. per ounce reached on Jan. 28 of this year. At the same time, Brent crude oil, the international standard, is trading right around $105 U.S. a barrel, up more than 40% so far in March after the U.S. and Israel attacked Iran. The U.S. Federal Reserve meets this week for a two-day policy meeting, where it is widely expected to hold interest rates steady at current levels. Wall Street had been pricing in two 25-basis point interest rate cuts from the U.S. central bank this year, but those hopes are now fading as war in the Middle East stokes inflation fears. Other central banks such as the European Central Bank, Bank of England, and the Bank of Japan also meet this week, with expectations that they too will hold interest rates steady. In a note to clients, analysts at Swiss bank UBS (UBS) wrote: "We expect central banks to be watchful of inflation risks without making knee-jerk policy rate hikes." Gold's price decline has dragged lower stocks of several mining companies, including Newmont (NYSE: $NEM ) and Barrick Gold (NYSE: $B ).