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Gold Slips to Two-Week Lows as Hawkish Fed and Oil Spike Boost Hike Bets

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The Story

News Summary

  • Gold dropped toward two-week lows near $4,460 as rising oil prices and hawkish Federal Reserve remarks boosted September rate hike odds to 65%.
  • Escalating Middle East tensions lifted energy costs, fueling inflation worries and driving expectations for tighter monetary policy, which weighs heavily on non-yielding bullion.
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XAUUSD price history

4333.00 -8.96% over the displayed period

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