Partially offsetting Friday's pullback, crude oil prices have soared on Monday after Saudi Arabia confirmed closing its East-West pipeline following attacks by Houthi militants. Further, the postponement of the scheduled talks between the Gulf Cooperation Council members and Iran diminished expectations of the reopening of the Strait of Hormuz.
Gold prices have slumped on Monday, more than offsetting the incremental gains from Friday's session as forecasts for a higher interest rate in the U.S. increased following recent inflation data. In addition, rising supply disruption concerns after Saudi Arabia announced closing its vital transport pipeline which led to a surge in crude oil prices weighed on the yellow metal.
Gold prices plunged on Monday as markets assessed the likely actions by global central banks to combat inflation. Inflationary concerns stoked by the spike in crude oil prices as well as the dollar's surge also dimmed the appeal of the yellow metal.
Renewed attacks on oil infrastructure in the Middle East and fading hopes of diplomatic progress to end the disruption in Strait of Hormuz weighed on crude oil prices at the onset of the new week.
Giving back ground after soaring in recent sessions, crude oil prices have tumbled on Friday amid expectations of a possible reopening of the Strait of Hormuz after reports indicated a possible meeting between Iran and the members of the Gulf Cooperation Council in the coming week to defuse the gulf crisis.
Gold prices are nearly flat on Friday as investors weigh today's inflation readings, which have reinforced bets on an interest rate hike by the U.S. Federal Reserve, against reports of an upcoming meeting between Iran and the Gulf Cooperation Council to discuss reopening the Strait of Hormuz.
Gold edged higher on Friday as oil prices slipped from recent highs and investors awaited key U.S. CPI data later in the day for additional clues on the Federal Reserve's rate trajectory. Spot gold rose 0.6 percent to $4,343.32 an ounce after hitting a one-week low earlier. U.S. gold futures were...
Oil prices traded lower on Friday but headed for a sharp weekly gain amid escalating U.S.-Iran tensions and concerns over prolonged disruption to global energy supplies. Brent crude futures tumbled 2.7 percent to $104.68 a barrel but were still on track for their biggest weekly advance since July....
Adding to the surges from two previous sessions, crude oil prices have catapulted on Thursday as supply disruption concerns increased following the recent U.S.-Iran re-escalation. In addition, comments from the U.S. President Donald Trump that the war could drag on until November diminished expectations of Strait of Hormuz reopening.
Offsetting the gains from yesterday's session, gold prices have tumbled on Thursday as investors weighed the ongoing intense U.S.-Iran re-escalation and its consequent increase in oil prices as well as the potential chances for a rate hike in the U.S.
A report released by the Energy Information Administration on Thursday showed a modest decrease in crude oil inventories in the U.S. in the week ended September 4th. The EIA said crude oil inventories edged down by 0.4 million barrels last week after tumbling by 4.5 million barrels in the previous...
Gold edged lower on Thursday amid fears that rising oil prices will fan inflation and add to pressure on global central banks to raise interest rates. Spot gold slipped 0.2 percent to $4,391.07 an ounce after rising earlier in the session on a softer dollar. U.S. gold futures were down 0.6 percent...
Oil prices traded higher on Thursday, recovering from an early slide as the Middle East conflict showed no signs of easing. There has been an escalation in fighting between Saudi Arabia and the Houthis in Yemen, fueling concerns about further disruptions to energy supplies. At least 23 people were...
Crude oil prices have surged on Wednesday as the U.S. and Iran continued to trade attacks against other, thereby continuing the Middle East conflict while diminishing investors' expectations on the reopening of the Strait of Hormuz, renewing long-term inflation concerns.
Partially offsetting the losses from the two previous sessions, gold prices have inched higher on Wednesday as gold received some support from its safe haven demand, while investors assessed the impact of a surge in oil prices and the consequent inflationary pressures.
September 11, 2026 16:26 ET Consumer prices data was the main news on the economic front in the U.S. this week. In Europe, the latest interest rate decision from the European Central Bank was the focus along with the revised second quarter economic growth data for the euro area. In Asia, the monthly foreign trade data from China drew attention.