Gold set for second weekly loss as oil-fuelled inflation concerns bolster Fed hike outlook - Reuters — SkimNews
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- Gold was set for a second weekly loss as oil-fuelled inflation concerns bolstered the outlook for Fed rate hikes.
- Gold dropped below $4,000 as the haven asset joined a market sell-off that spread across precious metals, which tumbled despite falling yields as Hormuz tensions intensified.
Why it matters: For gold holders, the move below $4,000 and a second weekly loss mark a material setback for the metal’s haven role. The broader precious-metals fall despite lower yields shows the pressure was not confined to gold as oil-driven inflation concerns and Hormuz tensions intensified.
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