Gold drops as Hormuz firefight fuels US Dollar jump

Gold drops as Hormuz firefight fuels US Dollar jump

Gold (XAU/USD) price slumps over 1% on Wednesday, losing for the second day in the week amid fears that hostilities between the US and Iran may escalate, pushing energy prices higher and the US Dollar as well. Geopolitics weigh on Gold, as Oil shock revives inflation fears Tensions in the Middle East are high after […]

Gold falls as strong US data and Middle East tensions boost the US Dollar

Gold falls as strong US data and Middle East tensions boost the US Dollar

Gold (XAU/USD) trades lower on Wednesday as escalating tensions in the Middle East dampen hopes for a near-term US-Iran peace deal, while a fresh batch of upbeat US economic data reinforces expectations that interest rates could stay higher for longer. At the time of writing, XAU/USD is trading around $4,447, down nearly 2.0% so far […]

Fed backdrop and data focus – BBH

Fed backdrop and data focus – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad notes that renewed US–Iran tensions have lifted the Dollar, Oil and global bond yields, with a restrictive Federal Reserve (Fed) backdrop seen as supportive for further Dollar strength. Haddad highlights stabilizing US labor market signals from April JOLTS and focuses on upcoming ADP, ISM services and Beige Book releases […]