Oil and Gold Rise as Geopolitical Tensions Loom Ahead of U.S. CPI
🛢️ Oil prices extended gains during Asian trading, with Brent near $89.5 a barrel and WTI around $83.8 as Middle East supply risks remained elevated. Developments around the Strait of Hormuz and fresh attacks on vessels continue to add a geopolitical premium to energy markets.
🥇 Spot gold also climbed toward $4,400 an ounce, supported by safe-haven demand amid geopolitical uncertainty and caution ahead of U.S. inflation data.
📊 Markets are now focused on July CPI, due at 8:30 AM ET. Softer-than-expected inflation could support gold and risk assets through expectations of a less hawkish Fed. A hotter reading could lift Treasury yields and the dollar, while oil remains highly sensitive to developments around Hormuz.
#Markets $CL $NATGAS $XAU
🛢️ Oil prices extended gains during Asian trading, with Brent near $89.5 a barrel and WTI around $83.8 as Middle East supply risks remained elevated. Developments around the Strait of Hormuz and fresh attacks on vessels continue to add a geopolitical premium to energy markets.
🥇 Spot gold also climbed toward $4,400 an ounce, supported by safe-haven demand amid geopolitical uncertainty and caution ahead of U.S. inflation data.
📊 Markets are now focused on July CPI, due at 8:30 AM ET. Softer-than-expected inflation could support gold and risk assets through expectations of a less hawkish Fed. A hotter reading could lift Treasury yields and the dollar, while oil remains highly sensitive to developments around Hormuz.
#Markets $CL $NATGAS $XAU