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Gold slips as oil rally keeps inflation, rate outlook on investors' radar

World News

15-07-2026 | 00:37

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Gold slips as oil rally keeps inflation, rate outlook on investors' radar

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Gold prices fell on Wednesday after ‌climbing more than 2% in the previous session, as rising oil prices fuelled inflation concerns and uncertainty over the U.S. interest-rate outlook, weighing on non-yielding bullion.

Spot gold was down 0.5% at $4,035.67 per ounce, as of 0300 GMT. U.S. gold futures for August delivery eased 0.7% to $4,042.20.

Gold jumped more than 2% to as much as $4,100.49 per ounce on Tuesday, ⁠rebounding from a two-week low, after data showed U.S. consumer inflation slowed more than expected in June as energy prices retreated.

Oil prices extended gains to a third consecutive session as U.S. President Donald Trump reimposed a naval blockade of all Iranian ports and threatened to hit power plants and bridges next week unless Tehran resumes negotiations, in the latest U.S. escalation of the conflict.

Elsewhere, spot silver lost 0.3% to $58.48 per ounce. Platinum gained 0.2% to $1,635.56 and palladium edged 0.2% higher to $1,307.11.

Reuters

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