Gold Falls as Renewed U.S.-Iran Tensions Dampen Peace Hopes, Clouds Interest Rate Outlook
Spot gold fell 0.7% as higher oil prices and a 56% chance of a Federal Reserve hike pressured the outlook, UBS said.
- Gold fell on Tuesday as renewed U.S.-Iran tensions near the Strait of Hormuz pushed oil prices higher, with Brent crude topping US$100 a barrel after slumping more than 7 per cent on Monday.
- President Trump announced the United States would continue military operations in Iran over the coming weeks, dampening hopes for swift resolution to the Middle East conflict that erupted in late February.
- Spot gold declined 0.7 per cent to US$4,540.14 an ounce in Singapore trading, while silver fell 2.4 per cent to US$76.21 as ActivTrades analyst Ricardo Evangelista cited sharpened inflationary fears and hawkish Federal Reserve expectations.
- Markets are pricing a 56 per cent chance of a Federal Reserve rate hike by December, with traders awaiting U.S. Personal Consumption Expenditures data Thursday; Ryan McKay, senior commodity strategist at TD Securities, said trend followers are sellers of gold.
- World Gold Council strategist John Reade expects better recovery chances toward year-end even if conflict ends now, as energy balance restoration takes time; UBS cut its year-end gold target by $400 to $5,500 due to persistent risks from higher yields.
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Gold Slips as Rising Oil Prices and Iran Conflict Fuel Interest Rate Fears
Gold prices declined on Tuesday as renewed U.S. military strikes in Iran pushed crude oil prices higher, increasing investor concerns that inflation could remain elevated ... The post Gold Slips as Rising Oil Prices and Iran Conflict Fuel Interest Rate Fears first appeared on [your]NEWS.
Gold prices fell during Asian trading on Tuesday following reports of new US military strikes against Iranian targets, prompting markets to reassess the risks of escalation in the region.
Gold falls as Iran tensions fuel inflation concerns
Gold falls as Iran tensions fuel inflation concerns Gold prices fell on Tuesday after renewed US military strikes in Iran pushed oil prices higher, raising concerns that inflation could remain elevated and keep interest rates higher for longer, Reuters reported. Spot gold fell 0.7 percent to $4,537.54 an ounce by 2.18am GMT, while US gold futures for June delivery edged up 0.3 percent to $4,538.50. Analysts said higher oil prices have renewed …
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Crypto BriefingGold slips as US-Iran tensions lift oil prices and stoke inflation fears
Washington: Gold fell on Tuesday as fresh US attacks in Iran pushed oil prices higher, fuelling concerns about inflation and the prospect of higher-for-longer interest rates.Spot gold was down 0.6% at $4,542.20 per ounce as of 0401 GMT. US gold futures for June delivery rose 0.4% to $4,542.80.Iran's top negotiator and its foreign minister were in Doha for talks with Qatar's prime minister on a potential deal with the US to end the three-month-ol…
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