-
Gold Falls as War Premium Flows into Oil, Not Bullion
Gold extended its retreat on Monday, a session that captured something many investors are still struggling to accept: in the current regime, a flare-up in the Middle East no longer lifts the metal. It pressures it. Spot gold slid 1.5% to $4,025.83 an ounce by 12:12 p.m. ET (1612 GMT), paring an earlier drop of more than 2% that briefly carried prices to within reach of last week's seven-month low. U.S. gold futures for August delivery slipped 1.4% to settle the morning near $4,040.70. The move keeps the metal on course for a fourth consecutive monthly loss, with the decline this month now exceeding 10%. The proximate ... (full story)
- Comments / Top
- Subscribe
-
Related Stories
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 ...
IRAN HAS REQUESTED A MEETING. IT WILL TAKE PLACE TOMORROW IN DOHA! President DJT
Gold prices eased lower in the first half of Monday’s session, even as the US dollar edge lower. Investors have largely looked through the latest military exchanges involving the US and Iran, especially after the two sides have apparently agreed to end days the fighting around the Strait of Hormuz and resume peace talks. The trend is clearly bearish on ...
