Oil, Gold Rise as Tensions Build Before CPI
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- Oil and gold prices rose as geopolitical tensions mounted ahead of the upcoming U.S. CPI data release, according to Reuters
- Gold rebounded toward a 10-week high and held near a two-month peak, with traders watching the inflation print for rate-hike clues while equities slipped and oil rallied
Why it matters: Gold near a two-month high and oil rallying ahead of the CPI print shows traders hedging inflation and geopolitical risk simultaneously — a hot CPI reading could reinforce rate-hike bets and pressure equities, while a soft print could unwind the safe-haven bid.
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