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Gold Retreats and Dollar Weakens as Oil Surge Fuels Inflation Fears
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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
4 outlets — read the original reporting
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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