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Commodities

Gold Price Hits Pause Near $4,440 Amid Oil Price Rise and US CPI Focus

Guavy AI Editorial Team
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Oil Gold
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The gold price has retreated from its two-month high of $4,435.40 as oil prices rose due to heightened uncertainty surrounding the Strait of Hormuz's reopening.

Investors are shifting their focus to the US CPI data for July, which is expected to significantly influence Federal Reserve interest rate expectations.

The gold price (XAU/USD) trades 0.26% lower at around $4,380 during the European trading session on Tuesday.

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