đš GOLD CRASHES TO 7-WEEK LOW AS OIL SURGE FUELS RATE-HIKE BETS
Gold suffered a sharp sell-off on Monday as rising oil prices increased inflation concerns and strengthened expectations for tighter U.S. monetary policy.
Key Points:
âą Spot gold fell as much as 4%
âą Gold hit a seven-week low near $4,110
âą Spot gold was around $4,121.58, down 3.8%
âą Oil prices jumped about 3%
âą Markets priced a high probability of another Fed rate hike
âą A stronger dollar and higher Treasury yields added pressure
Market Insight:
Higher oil prices are raising inflation concerns, while stronger rate-hike expectations are increasing the pressure on non-yielding gold.
Asset to Watch: đ„ Gold (XAU)
#Gold #XAU #Fed #Inflation #Markets $XAU $CL $BZ
Gold suffered a sharp sell-off on Monday as rising oil prices increased inflation concerns and strengthened expectations for tighter U.S. monetary policy.
Key Points:
âą Spot gold fell as much as 4%
âą Gold hit a seven-week low near $4,110
âą Spot gold was around $4,121.58, down 3.8%
âą Oil prices jumped about 3%
âą Markets priced a high probability of another Fed rate hike
âą A stronger dollar and higher Treasury yields added pressure
Market Insight:
Higher oil prices are raising inflation concerns, while stronger rate-hike expectations are increasing the pressure on non-yielding gold.
Asset to Watch: đ„ Gold (XAU)
#Gold #XAU #Fed #Inflation #Markets $XAU $CL $BZ
