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Gold: Prices under pressure from energy-driven inflation – ING
Spot Gold fell 2.8%, nearing $4,000/oz. ING analysts Warren Patterson and Ewa Manthey report that neither the equity sell-off nor lower US Treasury yields supported the metal. In their view, higher Oil prices and the inflation outlook are dominating the Gold market’s attention. With US inflation still above the 2% target, these pressures could strengthen the case for tighter central bank policy.
Gold Under Pressure as Energy Prices Rise
"Gold prices failed to benefit from yesterday's equity sell-off and the significant fall in US Treasury yields, with the 10-year yield falling back below 5%. Instead, gold prices came under pressure."
"Spot prices fell 2.8% and are nearing $4,000/oz."
"The gold market appears more focused on higher oil prices and what it could mean for inflation — and ultimately central bank policy."
"With US inflation still above the central bank’s 2% target, higher energy prices could intensify price pressures and strengthen the case for tighter monetary policy."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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