Gold slips as rising oil prices fuel fears of inflation
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- Gold prices eased in early Asian trading as higher oil prices intensified concerns about persistent inflation.
- Spot gold fell to $4,440.34 per ounce after trading near $4,454.68 earlier in the session.
- Expectations that the Federal Reserve could maintain a hawkish policy stance added pressure to the non-yielding metal.
Gold came under short-term pressure in early Asian trading on Tuesday, slipping toward $4,443 per ounce as rising oil prices fueled inflation fears.
Spot gold fell to $4,440.34 per ounce after holding near $4,454.68 earlier in the session. Higher energy prices following recent military exchanges in the Middle East reinforced expectations that the Federal Reserve may keep monetary policy hawkish, creating near-term headwinds for bullion, which does not pay interest.
About this summary
Originally published by Gulf Today. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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