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الخليج
Oil spikes as gold dips after barrel fire
Gold prices experienced a significant decline at the beginning of the week, decreasing by 3.10% to $4,150 per ounce, marking the lowest level since August, amid ongoing inflation pressures and expectations of a U.S. interest rate hike. Meanwhile, oil prices rose noticeably due to the stalled revived negotiations between the U.S. and Iran regarding the Strait of Hormuz, which heightened concerns over energy supplies and rising inflation. Brent crude increased by 4.2% to $108.65, and West Texas Intermediate rose by 4% to $96.25. The market reflects two opposing trends: oil stocks benefiting from geopolitical tensions, while gold faces downward pressure from rising U.S. Treasury bond yields and continued expectations of interest rate hikes.
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