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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)
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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
From usatoday.com | 1 hr 6 min ago
Oil prices have fallen to pre-Iran war levels, trading in the $70-a-barrel range, while gold prices have been slowly trending down for months. But are these trends correlated? At first glance, declining oil and gold prices could suggest a cooling economy and easing inflation concerns. That’s because both these commodities react to economic uncertainty. But ...
