Gold slips, oil posts first gain in five sessions as traders await Fed signals and US–Iran talks

Gold slipped and oil posted its first gain in five sessions as traders awaited Federal Reserve signals and possible US–Iran talks at the UN.

• Spot gold fell 0.45% to $4,323.20 an ounce by 07:20 GMT Tuesday.
• Brent crude rose 1.22% to $101.58 a barrel and WTI gained 0.77% to $93.15, oil's first increase in five sessions.
• Alberto Musalem, president of the St. Louis Fed, said the central bank will likely need to raise rates further to curb inflation.
• Donald Trump said he is open to meeting Iranian President Masoud Pezeshkian during UN General Assembly meetings in New York this week.
• Tim Waterer of KCM Trade said the oil rise was a technical rebound from short-covering, not a shift in fundamentals.
• Reuters reported that China, at Saudi Arabia's request, pressed Iran to help curb Houthi attacks on the kingdom.
• Gold fell for a third consecutive session, with the ounce dropping below $4,300 and 21-carat gold in Egypt hitting a one-week low.
• Technical analysis from the Gold Bullion platform said gold broke below EGP 6,300 per gram and may test support at EGP 6,250.
• The drop was driven by declining global gold prices and a weaker US dollar exchange rate in banks.
• Egyptian gold prices fell about 20 pounds at the start of morning trading, with 21-carat gold at 6,330 pounds per gram.