Gold futures rise as Middle East tensions and oil prices cap gains
Updated
Updated · Barron's · May 5
Gold futures rise as Middle East tensions and oil prices cap gains
10 articles · Updated · Barron's · May 5
In early New York trading, gold futures gained 0.6% to $4,560.50 a troy ounce, while silver rose 0.4% to $73.80 and platinum climbed 1.3% to $1,987.50.
MUFG's Soojin Kim said investors bought after a recent selloff linked to renewed regional tensions, but higher oil prices and rising US Treasury yields limited gold's advance.
Expectations the Federal Reserve may need to raise interest rates weighed on non-yielding bullion, extending inflation concerns that had already capped a rebound from Monday's more than 2% drop.
With gold defying interest rates, what new indicator will predict its next move?
As the Hormuz crisis fuels inflation, will central banks choose to fight it or prevent a global recession?