Commodities
Gold Prices Slide Amid Inflation Concerns; Brent Crude Surges Above $88
Gold prices slipped on Friday as investors took profits after a strong rally. The metal had hit a 10-week high earlier in the week, but concerns over inflation and Federal Reserve policy kept the outlook uncertain.
Treasury Secretary Scott Bessent announced that Washington would impose unprecedented economic measures against Iran to reopen the Strait of Hormuz. Brent crude rose above $88 a barrel as a result, gaining more than 5% this week.
Copper futures fell to near two-week lows due to elevated prices weakening demand and discouraging buyers in top consumer China. The charts suggest buying opportunities for gold, silver, crude oil, and copper with specific price targets and stop-loss levels.