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Gold set for weekly loss as US-Iran tensions fuel rate-hike fears
Gold edged lower on Friday and was set for a weekly loss, as rising crude oil prices and escalating U.S.-Iran tensions fed concerns that the Federal Reserve may keep monetary policy tight for longer. Spot gold fell 0.4% to $4,105.97 per ounce by 1106 GMT, leaving it down about 1.6% for the week. U.S. gold futures for August delivery slipped 0.6% to $4,114.80 per ounce. "Spot prices may once again test the $4,000 per-ounce level for psychological support should tensions escalate further and oil prices extend their rebound," said Han Tan, chief market analyst at Bybit. Oil was headed for a weekly gain after ... (full story)
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From brecorder.com | 5 hr ago
Gold prices edged higher on Friday as the dollar softened, but were on track for a weekly decline on concerns that escalating US-Iran tensions could fuel inflation and keep the US Federal Reserve on a hawkish monetary policy path. Spot gold was up 0.2% at $4,128.92 per ounce, as of 0303 GMT, and headed for an over 1% weekly fall. U.S. gold futures for ...
