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Commodities

Gold Price Faces Pressure as Oil Prices Surge

Guavy AI Editorial Team
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Oil Gold
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The price of gold is facing renewed pressure due to rising oil prices and persistent tensions in the Middle East, which are reviving inflation concerns.

Rising oil prices could prevent the US Federal Reserve from easing monetary policy quickly, despite weak US non-farm payroll data.

Sport gold traded between $4,356-4,434 an ounce in early trade on Thursday, after closing $42 higher at $4,391 on Aug 10.

The Gold Traders Association in Thailand adjusted prices twice yesterday morning, with a combined increase of 100 baht from the previous day, bringing gold bars to 69,150 baht per baht-weight.

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