Gold retreated on Tuesday after rising more than 2% in the previous session, as concerns about inflation driven by higher energy prices kept investors on edge ahead of the US midterm elections.
Spot gold fell 1.1% to $3,904.69 per ounce by 10:02 GMT.
U.S. gold futures for December delivery fell 1.4% to $3,914.70, according to Reuters.
Oil prices rose by more than a dollar after an Iranian official said a deal to end the war remained far off, while the United States launched an attack on Iran’s Qeshm Island, stoking concerns over energy supplies that kept energy prices elevated and strengthened the case for tighter monetary policy.
Nitesh Shah, a commodities analyst at WisdomTree, said: “Higher oil prices usually add to inflationary pressures. As these pressures mount, expectations tend to shift toward interest rate hikes, which weighs on gold. This is exactly what we’re seeing today.”
#Binance #BinanceSquareFamily #BinanceSquareTalks #BTC走势分析 #bitcoin