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Gold falls below $4,050 as firmer dollar, higher oil and Fed hike bets weigh
Gold slid nearly 2% on Thursday, with XAU/USD dropping below $4,050 after retreating from a two-day peak above $4,100, as the US Dollar regained ground and markets weighed the risk of prolonged conflict in the Gulf. The Dollar Index (DXY) rose 0.29% to 101.43, tightening financial conditions for bullion priced in dollars. Oil added to the pressure: West Texas Intermediate (WTI) climbed about 6%, touching a session high above $92 per barrel. US data were limited, but Initial Jobless Claims for the week ending July 19 fell to 187K from 209K, beating a 212K forecast, while the four-week average eased to 207.5K from ... (full story)
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