Gold slips as fresh US-Iran strikes boost oil, Fed rate-hike bets weigh | Metals Mine

  • Gold slips as fresh US-Iran strikes boost oil, Fed rate-hike bets weigh

    From brecorder.com

    Gold prices eased on Monday as recent US-Iran strikes in the Gulf pushed oil prices higher, while expectations of US Federal Reserve interest rate hikes further weighed on the non-yielding metal. Spot gold was down 0.7% at $4,061.35 per ounce, as of 0242 GMT. US gold futures for August delivery lost 0.5% to $4,076.40.The metal was headed for a fourth consecutive monthly loss of 10.4%. “US and Iran were at it again over the weekend, with fresh military strikes reported from both parties, which casts further doubt over how long oil can stay at these subdued levels and therefore over the broader inflation and interest ... (full story)

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paramourfxtr
12 hr ago
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It is crazy how the traditional safe-haven logic for gold completely breaks down when oil enters the picture. You would think fresh strikes in the Gulf would push gold up, but higher oil just threatens to trigger more inflation, which means the Fed will keep leaning toward rate hikes. For me, trying to buy gold as a geopolitical hedge right now is a trap; as long as the dollar stays strong and yields stay high, gold is going to keep struggling to find any real support.
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Josh827
12 hr ago
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gold safe haven is good for short term, but not for long
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ww3361
11 hr ago
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The central axiom of your post isn’t true though.
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paramourfxtr
11 hr ago
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Fair enough, what is the alternative view then? Are you seeing central bank buying overriding the yield narrative, or something else on the charts?
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ww3361
10 hr ago
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Gold can be seen as a store of value. It can be seen as an inflation hedge.

But both points are highly contextual: So contextual, in fact, that they are more useful as being seen as incorrect than otherwise.

When shit hits the fan gold typically sells off in favour of cash usd. When the fed is expected to ramp up rates because of high inflation, gold typically sells off in favour of short end / money market.

I would expect seeing it as an inverse to short end yields is of more value than anything else.
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SuhayelXAU
10 hr ago
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Facts:
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Tanisha.fx
12 hr ago
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It's interesting how the same news that creates safe-haven demand is also pushing oil higher and increasing inflation concerns. Gold bulls may have expected a stronger move, but higher yields are keeping a lid on prices.
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paramourfxtr
12 hr ago
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Gold Short positions below 4095 with targets at 4025 & 4005 in extension.
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SuhayelXAU
10 hr ago
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It touched 4024
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UsefulBoy
10 hr ago
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Not Really
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Raicha
12 hr ago
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Lets slide first to 3900 zone
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Trader#C42A
12 hr ago
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that means price will go high
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Josh827
12 hr ago
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no
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Trader#A5EB
11 hr ago
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No low
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SuhayelXAU
10 hr ago
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No Sir, Oil is increasing, keeping gold intact and bearish. DXY is going up as well.
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Trader#214E
11 hr ago
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See u guys at price 3000 .
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Sonansindhi
9 hr ago
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Not gonna happen
Maximum 3500 ?
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Trader#5F50
10 hr ago
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Keep selling GOLD< regardless of US-Iran agreements, Gold will crash due to the FED being very hawkish
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UsefulBoy
9 hr ago
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This Next NFP may Go Up
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Sonansindhi
9 hr ago
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Gold next target 3890$ ?
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Ddcoe
9 hr ago
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I'm bullish on WTI,If I could have a structural break above 73.00 that would be fine
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Trader#DE0C
11 hr ago
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Epstein-Trump and their cronies pedo coalition is at work.
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Trader#5EB1
9 hr ago
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If everyone think it will go down, it means good time to cover up for gold
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