Commodities
Gold Dips Amid Surging Oil and Rising Inflation Expectations
Gold prices slipped to $4,045.94 per ounce on July 24, 2026, marking a modest 0.09% decline that extended the roughly 2% drop seen the previous session.
The catalyst behind this movement is the sharp rally in Brent crude oil, which climbed above $100 a barrel for the first time in months, driven by escalating conflicts in the Middle East, including recent U.S. strikes on Iranian targets and retaliatory Houthi attacks on Saudi tankers.
Higher oil prices typically stoke inflationary pressures, prompting markets to anticipate more aggressive monetary tightening from the U.S. Federal Reserve.