Whoever controls oil shapes the global economy. Brent's performance is influencing a wide range of asset prices, and gold is no exception. The precious metal is sensitive to central bank interest rates, bond yields, and the US dollar. All of these, in turn, are tightly linked to developments in the Middle East. Speculation about an imminent end to the US-Iran conflict sent Brent crude tumbling and boosted the XAU/USD. The logic is quite straightforward: the higher oil prices rise, the stronger the inflationary pressure becomes. If Brent remains at elevated levels, the increase in consumer prices is unlikely to be ... (full story)