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Gold falls 2% as escalating Middle East tensions reinforce US rate-hike bets
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 $4,005.20. Oil prices rose over 1% as concerns over Middle East energy supplies increased after Iran asked Yemen’s Houthis to stand ready to close the Red Sea oil route if the U.S. strikes Iranian power infrastructure. Higher oil prices stoke inflation concerns, raising ... (full story)
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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
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 ...
From zawya.com | 8 hr ago
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 ...
