Escalation in the Middle East increases risks to energy and inflation, but tighter monetary policy and weak U.S. data keep metal moves limited ahead of the Federal meeting
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Gold rose due to bargain-hunting purchases, while traders watched a series of developments in the Middle East conflict for signs of how energy prices might affect inflation.
Gold continued to trade in a tight range near $4,000 per ounce after it ended the previous session down 0.2%.
Oil saw little change after two days of gains, even after U.S. forces launched another round of strikes on Iranian targets, and President Donald Trump pledged that Tehran “will pay the price” for killing three American soldiers in recent days.
Iran-backed Yemeni Houthi group entered the conflict, claiming it would impose a ban on maritime navigation to the Kingdom, prompting the “Arab Coalition to Support Legitimacy in Yemen,” led by Saudi Arabia, to emphasize that it had taken steps to protect vessels sailing in the Red Sea
#XAU $XAUT
Gold rose due to bargain-hunting purchases, while traders watched a series of developments in the Middle East conflict for signs of how energy prices might affect inflation.
Gold continued to trade in a tight range near $4,000 per ounce after it ended the previous session down 0.2%.
Oil saw little change after two days of gains, even after U.S. forces launched another round of strikes on Iranian targets, and President Donald Trump pledged that Tehran “will pay the price” for killing three American soldiers in recent days.
Iran-backed Yemeni Houthi group entered the conflict, claiming it would impose a ban on maritime navigation to the Kingdom, prompting the “Arab Coalition to Support Legitimacy in Yemen,” led by Saudi Arabia, to emphasize that it had taken steps to protect vessels sailing in the Red Sea