Topic
rate hike
Commodities Gold Prices Slide to 6-Month Low Before Recovering on US-Iran Peace Talks, Strait of Hormuz Reopening Possible
Gold touched its lowest level in more than six months on Thursday before recovering to settle at $4,219.69, driven by US President Donald Trump's indication of a possible peace agreement with Iran that could reopen the Strait of Hormuz for shipping. The decline was fueled by high inflation stoking rate hike fears. Iran stated no final decision has been made on any agreement.
Commodities International Gold Prices Drop as Rate Hike Fears on Higher Inflation Reduce Safe Haven Appeal
International gold prices dropped as rate hike fears on higher inflation reduced safe haven appeal, according to The Times of India. Physical demand remained subdued in India while China's central bank expanded gold holdings for a nineteenth straight month. Speculative investors increased net long exposure in gold by 14,409 contracts to 111,341 contracts during the week ended June 2.
Commodities Gold Set for Weekly Loss as Inflation, Rate Hike Fears Persist
Gold prices declined on Friday, heading for a weekly loss as concerns over inflation and potential US Federal Reserve interest rate hikes pressured the market. Spot gold fell 0.5% to $4,191.17 per ounce, while US gold futures rose 2.4% to $4,212.70. The price action was driven by geopolitical headlines, including President Trump's decision to call off military strikes on Iran.