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Commodities

Gold Slips, Oil Surges Amid Rate Hike Concerns and Ongoing Tensions

Guavy AI Editorial Team
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Oil Gold
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Gold prices have slipped after reaching a fresh two-month high as investors weigh support from softer US inflation against concerns that higher energy prices could keep the Federal Reserve cautious on interest rates.

The recent CPI data has lowered expectations for a near-term rate hike, with CME FedWatch showing a 38-40% probability of a September hike, down from 46% before the release.

Meanwhile, oil prices have posted strong gains over the past week amid limited progress toward easing US-Iran tensions and reopening the Strait of Hormuz, a key route for global oil supplies.

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