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Gold Holds Five-Day Gain as Oil Drop Eases Inflation Concerns
Source: Bloomberg
InflationInterest Rates & YieldsEnergy Markets & PricesGeopolitics & WarCommodities & Raw Materials
Gold kept a five-day gain as Treasury yields fell, easing inflation concerns, while oil prices also declined. The move was supported by Iran and Oman discussing ways to reopen the Strait of Hormuz, reducing regional shipping risk. Overall, the combination of softer rates and lower energy prices is supportive for gold near term.
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