Gold Slides to $4,619, Set for 2% Weekly Loss as Oil Tops $106

4 articles · Updated · Reuters · May 15

$4,619.61 an ounce marked gold’s lowest level since May 6, with spot prices down 0.6% on Friday and headed for a fourth straight daily loss.
Brent crude’s 5.6% weekly rise to above $106 has revived inflation fears, pushing 10-year Treasury yields near a one-year high and reinforcing expectations that U.S. rates will stay higher for longer.
A dollar gain of more than 1% this week added pressure by making bullion costlier for non-U.S. buyers, while June gold futures fell 1.3% to $4,624.
Trump’s warning that his patience with Iran is running out and investor focus on his talks with Xi kept geopolitical risk in view, but bullion has still dropped about 13% since the U.S.-Iran conflict began on Feb. 28.
ANZ cut its year-end gold target by $200 to $5,600, underscoring how stronger inflation expectations, higher yields and a firmer dollar are reshaping the outlook.

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