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Gold Retreats and Dollar Weakens as Oil Surge Fuels Inflation Fears
Synthesized from2 sources
Gold Retreats and Dollar Weakens as Oil Surge Fuels Inflation Fears
Gold prices fell and the dollar weakened on Wednesday as a surge in oil prices raised inflation concerns, even as US consumer price data came in weaker than expected.
- Gold spot fell 0.7% to $4,025.35 per ounce, and US gold futures for August delivery dropped 0.9% to $4,033.12.
- Oil prices extended gains for a third session after US President Donald Trump reimposed a naval blockade on all Iranian ports and threatened to strike power plants and bridges next week if Iran does not resume negotiations.
- The US dollar index slipped to 100.8 after a 0.35% decline in the previous session, its largest drop in nearly two weeks.
- US consumer price inflation slowed more than expected to 3.5% year-on-year in June, with a 0.4% monthly decline, the first since April 2020.
Latest developments
- Jul 15 — The US dollar has stabilized around 100.9 points after falling in the previous session, traders scaling back bets on a rate hike.
Coverage
Read the original reportingThis brief was compiled from 2 outlets, over 10 hours of coverage. Each is listed below with the headline it led on, so you can compare them yourself.
رغم تصاعد الحرب بين أمريكا وإيران.. لماذا تباطأت تحركات الذهب؟ خبراء يجيبون
masrawy.com
الذهب يتراجع بعد قفزة 2%.. وترقب لتوقعات حسم الفائدة الأمريكية | مصراوي
masrawy.com
الدولار يستقر عالميا بعد تراجع الرهانات على رفع الفائدة وتباطؤ التضخم
masrawy.com
الذهب يتراجع والدولار تحت الضغط وسط تركيز على التضخم والفائدة
aljazeera.net
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