* Gold falls to lowest level since November

* Silver, platinum at lowest since mid-December

* Oil prices hold above $110/bbl

* Market bets on Fed rate hike increases

(Updates for EMEA morning session)

By Ishaan Arora and Pablo Sinha

March 23 (Reuters) - Gold fell more than 8% at one point

on Monday, hitting a four-month low, after logging its biggest

weekly loss in about 43 years, as investors rushed to unwind

positions amid a strengthening dollar and growing expectations

of U.S. rate rises.

Spot gold declined 4.9% to $4,266.47 per ounce by

1017 GMT, extending losses into a ninth straight session. It had

shed more than 8% to $4,097.99 earlier in the session to its

lowest level since November 24.

The precious metal has fallen about 22% since the Middle

East conflict began on February 28, and has retreated about 25%

from its record peak of $5,594.82 reached on January 29.

U.S. gold futures for April delivery dropped 6.7% to

$4,267.50.

The dollar and benchmark 10-year U.S. Treasury yields rose,

pressuring gold prices.

While gold is traditionally viewed as a hedge against

inflation, rising energy prices due to the Iran war have raised

the prospect of higher interest rates, dimming non-yielding

bullion's appeal.

"Markets no longer see any Fed rate cuts this year and have

started pricing in chances of hikes, boosting the U.S. dollar

and compounding bullion's weakness," said Nikos Tzabouras,

senior market analyst at Jefferies-owned Tradu.com.

"Meanwhile, gold also falls victim to a search for cash and

a rotation into energy commodities."

Oil held above $110 per barrel on Monday.

Market bets on a U.S. rate hike this year have surged, with

futures now implying the Federal Reserve is likelier to raise

rates than cut them by the end of 2026, according to CME's

FedWatch tool.

Gold's fall to its lowest level since November has seen it

return to its 200-day moving average.

However, some analysts say the broader trajectory for gold

could remain positive, with the metal up about 42% on a one-year

basis.

"Once the dust settles and the current wave of forced

selling runs its course, the outlook for gold in particular may

improve again quite sharply," said Ole Hansen, head of commodity

strategy, Saxo Bank, in a note.

Other precious metals also declined sharply, with spot

silver declining 5.5% to $64.01 per ounce and platinum

slipping 7.2% to $1,783.30. Both metals earlier hit their

lowest levels since mid-December.

Palladium shed 2.1% to $1,374.73.