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Gold falls as Mideast escalation dims hopes of easing inflation
Gold prices fell on Thursday as the escalating Middle East conflict showed no signs of abating, erasing recent optimism over easing inflation and fuelling concerns that surging oil prices could lead to interest rate hikes. Spot gold was down 0.6% at $4,034.42 per ounce by 0349 GMT. U.S. gold futures for August delivery lost 0.3% to $4,039.90. "Gold is declining as the escalating attacks in the Middle East continue to push oil prices sharply higher this week, keeping concerns about inflation alive," said Jigar Trivedi, a senior research analyst at IndusInd Securities. Oil prices extended gains to a fourth session ... (full story)
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Gold prices fell on Thursday as the escalating Middle East conflict showed no signs of abating, erasing recent optimism over easing inflation and fuelling concerns that surging oil prices could lead to interest rate hikes. Spot gold was down 0.6% at $4,034.42 per ounce by 0349 GMT. US gold futures for August delivery lost 0.3% to $4,039.90. “Gold is ...
Iran Tells Yemen's Houthis To Close Bab El-Mandeb Gateway To The Red Sea If US Hits Power Network – RTRS Cites Sources *(IR) FOLLOW-UP: IRAN TELLS YEMEN'S HOUTHIS TO CLOSE BAB EL-MANDEB GATEWAY TO THE RED SEA IF U.S. HITS POWER NETWORK - PRESS **TTN Note: A closure or major disruption of the Bab el-Mandeb Strait would directly threaten Saudi Aramco's Yanbu Red Sea exports, which have reached… *(IR) Representatives of Iran's Islamic Revolutionary Guard Corps (IRGC) who are already in Yemen will control the decision on when to close the Bab el-Mandeb strait - press (More at ) IRAN OPENS A SECOND ENERGY FRONT AS HORMUZ CLOSURE THREATENS RED SEA TRADE Reuters reports Iran is signaling that Yemen’s Houthis could close the Bab el-Mandeb Strait if U.S. attacks continue. Hormuz is already shut, placing two major oil routes under pressure. The hit… pic.twitter.com/9TnTjFWSdJ
From brecorder.com | 7 hr ago
Gold fell 2% on Thursday, as escalating Middle East tensions pushed oil prices and U.S. Treasury yields higher, heightening inflation concerns and reinforcing expectations of elevated U.S. interest rates. Spot gold was down 1.5% at $4,001.17 per ounce by 0926 a.m. EDT (1326) GMT, after falling as much as 2% earlier. U.S. gold futures dropped 1.1% to ...
