Gold Springs to Life as Oil Rout Eases Inflation Pressure

Gold prices rebounded on Tuesday, gaining over 1.30% to reach $4,170 after hitting a multi-week low near $4,110 on Monday.

The recovery was largely due to lower energy prices, with West Texas Intermediate (WTI) crude collapsing by 4.27% to $89.10 per barrel.

New York Fed President John Williams said the central bank is in no rush to raise rates, citing price stability as a key priority for the economy.

Despite this dovish tilt from Williams, other Fed officials remained hawkish, with St. Louis Fed's Alberto Musalem saying policy remains 'still accommodative' and Chicago's Austan Goolsbee warning that persistent inflation is like 'playing with fire'.