12 Hrs
Source:
AL24 News
Gold gains amid easing oil and US inflation data
Gold prices rose today, Tuesday, amid a decline in oil prices, after the yellow metal reached its highest level in a week. This increase was due to the calming of oil prices following a surge caused by tensions in the Middle East, which could lead to inflation concerns and prompt the U.S. Federal Reserve to tighten interest rate hikes. The market is anticipating the release of U.S. inflation data tomorrow, as any unexpected rise in inflation could increase the likelihood of rate hikes, potentially exerting downward pressure on gold prices in the short term. Spot gold was traded at $4,188.27 per ounce, with future increases expected depending on inflation results.
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