July 27 (Reuters) – Gold climbed more than 1% on Monday after a pause in hostilities in the Middle East \u200cpushed oil prices lower, easing worries about inflation and prolonged \u200chigh interest rates. <\/p>\n
FUNDAMENTALS <\/p>\n
* Spot gold rose 1.3% to $4,103.99 per ounce by 0058 GMT. \u200bU.S. gold futures for August delivery gained 0.9% to $4,106.10. <\/p>\n
* Iran will halt its own attacks as long as the United States does the same, a senior Iranian official told Reuters on Sunday. <\/p>\n
* The United \u200cStates pressed pause on \u2060its bombing campaign after President Donald Trump’s advisers told him they were running out of targets and expressed \u2060worries about depleting the U.S. arsenal. <\/p>\n
* Oil prices tumbled 5% as investors hoped for a diplomatic solution that would de-escalate the conflict. [O\/R] <\/p>\n
* \u200bElevated crude \u200boil prices stir market concerns about \u200binflation and the potential \u200cfor higher-for-longer interest rates. While gold is traditionally seen as a hedge against inflation, its appeal as a non-yielding asset diminishes in a high-interest-rate environment. <\/p>\n
* The dollar and yields on the 10-year U.S. Treasury note fell, further supporting gold. [US\/] [USD\/] <\/p>\n
* The U.S. Federal Reserve is \u200cwidely expected to keep rates unchanged this \u200bweek, although traders are still pricing \u200bin about an 80% chance \u200bof a hike in September, according to the \u200cCME FedWatch Tool. [FEDWATCH] <\/p>\n
* COMEX gold speculators \u200braised net long \u200bpositions by 4,438 contracts to 123,586 in the week to July 21, CFTC data showed. [CFTC\/] <\/p>\n
* Spot silver rose 2.7% to $59.74 \u200bper ounce, platinum \u200cclimbed 2% to $1,619.75 and palladium jumped 2.3% to $1,271.93. <\/p>\n
DATA\/EVENTS (GMT) <\/p>\n
0500 Japan Leading Indicator Revised May <\/p>\n
0800 Germany Ifo \u200bBusiness Climate, Curr <\/p>\n
Conditions, Expectations New Jul <\/p>\n
1230 US Durable Goods Jun <\/p>\n
(Reporting by Pablo Sinha \u200bin Bengaluru; Editing by Subhranshu Sahu) <\/p>\n","protected":false},"excerpt":{"rendered":"July 27 (Reuters) – Gold climbed more than 1% on Monday after a pause in hostilities in the…\n","protected":false},"author":2,"featured_media":561237,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,932,4486,43,6807,12521,40,38,41,39],"class_list":["post-561404","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-inflation","tag-interest-rates","tag-news","tag-oil-prices","tag-president-donald-trump","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/561404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=561404"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/561404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/561237"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=561404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=561404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=561404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}