Gold Tops $4,100 as US-Iran Pause Eases Oil and Inflation Risks
Updated
Updated · Bloomberg · Jul 27
Gold Tops $4,100 as US-Iran Pause Eases Oil and Inflation Risks
3 articles · Updated · Bloomberg · Jul 27
Summary
Bullion rose as much as 1.6% to above $4,100 an ounce after a weekend pause in US-Iran fighting reduced immediate demand for inflation hedges.
The move followed signs that oil supply risks were easing: Washington halted an almost two-week run of strikes, and Iran signaled it was holding back retaliatory attacks.
Oman-hosted talks on shipping through the Strait of Hormuz added to the calmer outlook for energy flows, a key channel through which the conflict had threatened prices.
Gold had already gained nearly 1% last week, and the latest rise shows how quickly the metal is reacting to shifts in Middle East tensions and inflation expectations.