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Gold Ends the Week Lower: Inflation Concerns Linked to Oil Weigh on Prices
Gold prices declined in today’s trading, as rising oil prices reignited inflation concerns. However, what is weighing most heavily on the safe-haven asset is the market’s skepticism about interest rate cuts, with rates expected to remain high for a prolonged period.
[Source: Market screener]
Gold near $4,700, silver falls while talks keep oil stable
Gold is stronger than silver in today’s trading, as traders point to persistent inflation amid a still tense scenario between Iran and the United States. Spot gold rises by about 0.26% to $4,700 per ounce, while silver loses 0.44% and stands at $86.98.
[Source: Kitco news]
Gold steady despite the shaky U.S.-Iran truce
Gold prices were broadly stable in today’s trading. Signs of tension between the U.S. and Iran did little to boost the precious metal, which slipped just 0.05% and remained above $4,700 per ounce.
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