Precious metals steady as oil-driven inflation fears fade | Metals Mine

  • Precious metals steady as oil-driven inflation fears fade

    From home.saxo

    Gold traded steadily above USD 4,300 on Tuesday as the market continued to consolidate following last week’s capitulation-style sell-off that briefly sent prices tumbling towards USD 4,000. The metal has found support from easing inflation concerns after crude oil and refined fuel prices extended their five-day decline, reducing fears that higher energy costs would trigger another wave of inflationary pressure potentially forcing the hands of central banks, especially the Federal Reserve. Ahead of today’s FOMC meeting, both the dollar and, in particular, US Treasury yields have drifted lower. However, the ... (full story)

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