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Commodities

Gold Suffers as Oil Prices Surge and Dollar Strengthens

Guavy AI Editorial Team
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Gold Oil Silver
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The gold price declined on Thursday as rising oil prices and stronger US dollar offset safe-haven demand tied to the ongoing US-Iran conflict.

Spot gold traded near $4,066.82 an ounce, down 1.52% on the session, while spot silver fell 2.75% to around $58.06.

The precious metals market is being influenced by competing forces, with geopolitical uncertainty supporting safe-haven demand but higher oil prices and rising Treasury yields limiting gold's upside.

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