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
14 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
14 hr ago
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gold safe haven is good for short term, but not for long
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ww3361
13 hr ago
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The central axiom of your post isn’t true though.
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paramourfxtr
13 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
11 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
12 hr ago
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Facts:
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Tanisha.fx
14 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
14 hr ago
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Gold Short positions below 4095 with targets at 4025 & 4005 in extension.
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SuhayelXAU
12 hr ago
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It touched 4024
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UsefulBoy
11 hr ago
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Not Really
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Raicha
14 hr ago
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Lets slide first to 3900 zone
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Trader#C42A
14 hr ago
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that means price will go high
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Josh827
14 hr ago
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no
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Trader#A5EB
12 hr ago
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No low
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SuhayelXAU
12 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
13 hr ago
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See u guys at price 3000 .
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Sonansindhi
11 hr ago
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Not gonna happen
Maximum 3500 ?
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Trader#5F50
12 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
11 hr ago
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This Next NFP may Go Up
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Sonansindhi
11 hr ago
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Gold next target 3890$ ?
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Ddcoe
11 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
13 hr ago
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Epstein-Trump and their cronies pedo coalition is at work.
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Trader#5EB1
11 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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