Gold Advances As Near-term U.S. Rate Hike Concerns Fade While U.S.-Iran Standoff Intensifies

Gold prices edged higher on Friday as worries about an immediate U.S. interest rate hike eased after recent economic data. This comes despite heightened oil-linked inflation concerns from the Strait of Hormuz crisis. Net effect is modest support for gold following the prior day’s slump.

Analysis

Gold prices edged higher on Friday as worries about an immediate U.S. interest rate hike eased after recent economic data. This comes despite heightened oil-linked inflation concerns from the Strait of Hormuz crisis. Net effect is modest support for gold following the prior day’s slump.