<\/p>\n\n\n\n
Gold fell on Monday as renewed Middle East tensions threatened to stoke inflation and reinforce expectations of higher-for-longer interest rates, a backdrop that tends to hurt non-yielding assets like bullion.<\/p>\n\n\n\n
By 07:15 ET, spot gold dropped 1.3% to $4,035.82 an ounce and futures fell 1.1% to $4,049.92.<\/p>\n\n\n\n
The US and Iran have reportedly agreed to halt tit-for-tat strikes in the Strait of Hormuz, reopening the waterway to free passage, though Iran has yet to confirm the deal, according to The New York Times. Talks on implementing a memorandum of understanding are set to continue, with the two sides potentially meeting in Doha as early as Tuesday.<\/p>\n\n\n\n
Oil steadied near pre-war levels, but the recent uptick kept fears of energy-driven inflation alive, along with expectations that the Federal Reserve and other central banks will raise rates before year-end.<\/p>\n\n\n\n
A stronger US dollar added pressure, making gold pricier for overseas buyers. The greenback has held up as a relative safe haven during the conflict, partly on the view that the US, as a major energy exporter, is more insulated from rising oil prices.<\/p>\n\n\n\n
This week’s US employment report, plus data on consumer confidence, job openings and private payrolls, should offer a fresh read on the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold fell on Monday as renewed Middle East tensions threatened to stoke inflation and reinforce expectations of higher-for-longer interest rates, a backdrop that tends to hurt non-yielding assets like bullion. By 07:15 ET, spot gold dropped 1.3% to $4,035.82 an ounce and futures fell 1.1% to $4,049.92. The US and Iran have reportedly agreed to …<\/p>\n","protected":false},"author":9,"featured_media":110167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,36],"tags":[],"class_list":["post-128994","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=128994"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128994\/revisions"}],"predecessor-version":[{"id":128995,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/128994\/revisions\/128995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/110167"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=128994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=128994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=128994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}