Business Recorder🇸🇦🇮🇷🇺🇸
Gold slips as focus remains on Middle East, rate outlook
BondsInterest RatesInflation
Gold prices slipped on Monday as market participants assessed developments in the Middle East and their implications for inflation and interest rates. Spot gold fell 0.3% to $4,362.60 per ounce by 0417 GMT after hitting a one-week high on Friday. US gold futures were down 0.6% at $4,400.20. Iran and the United States exchanged new threats, with President Donald Trump warning Iran would fail economically or face its leadership being wiped out if it didn’t make a deal, and the Iranian military saying it would retaliate harshly to any fresh attack. “The focus remains on geopolitics, oil and the reaction in bond yields. For gold to gain meaningful upside traction, a clear move lower in oil and/or bond yields is likely required,” said Tim Waterer, chief market analyst at KCM Trade. “Gold may trade in a roughly $4,200 to $4,580 range in the near term.” Oil prices fell on hopes diplomacy in the Iran war will get a chance this week amid a UN meet and as investors eyed a partial recovery in shipments from Saudi Arabia despite ongoing attacks by Yemen’s Houthis.