2026-05-26T07:42:39+00:00
font
Enable Reading Mode
A-
A
A+
Shafaq News
Gold fell on Tuesday as fresh U.S. attacks in Iran pushed
oil prices higher, fuelling concerns around inflation and higher-for-longer
interest rates.
Spot gold was down 0.9% at $4,529.50 per ounce, as of 0545
GMT. U.S. gold futures for June delivery gained 0.2% to $4,529.60.
Gold fell on Tuesday as fresh U.S. attacks in Iran pushed
oil prices higher, fuelling concerns around inflation and higher-for-longer
interest rates.
Spot gold was down 0.9% at $4,529.50 per ounce, as of 0545
GMT. U.S. gold futures for June delivery gained 0.2% to $4,529.60.
Brent crude futures rose 2% in Asian trade on Tuesday, as a
deal to end the war and open up
the Strait of Hormuz remained elusive.
Elevated crude oil prices can fuel inflation and keep
interest rates higher for longer. While gold is seen as a hedge against
inflation, higher rates
tend to weigh on the non-yielding metal.
Markets are pricing in a U.S. Federal Reserve rate hike
before year-end, with a 56% chance of a move
by December, according to CME Group’s FedWatch tool.
Spot silver fell 2.1% to $76.45 per ounce, platinum lost 1%
to $1,948.12, and palladium slid 1.4% to $1,378.89.
(Reuters)
Only the headline is edited by Shafaq News Agency.