Gold Edges Higher as Oil Eases Despite Fed Rate Hike
Gold rises 0.89% to $4,379 as oil prices ease, despite a Fed rate hike that had driven the metal to a two-month low. Key resistance sits at $4,400.
Gold Market
Tagged: oil
Gold holds losses as oil disruption fuels Fed rate hike bets
Gold traded around $4,290 an ounce after falling to a five-week low, as Middle East oil disruptions reinforced expectations of a Federal Reserve rate hike this week.
Gold pulls back from breakout as sticky inflation and bond yields weigh
Gold approached a breakout last week but lost momentum, settling back above $4,200. Sticky inflation, rising bond yields, and a Fed rate hike expectation counterbalanced geopolitical oil supply risks.
Gold Near Two-Week Low as Hawkish Fed and Oil Surge Bite
Gold remains close to a two-week low near $4,460 as Fed Chair Warsh’s hawkish tone and oil-fuelled inflation fears push September rate hike probability above 65%.
Gold holds above $4,400 as weak US data and Iran tensions weaken dollar
Gold extended its rally above $4,400 as the US dollar hit two-month lows. Weak US jobs and inflation data reduced Fed rate hike bets, while Iranian threats lifted oil and supported safe-haven demand.