Gold holds firm as Hormuz tensions muddy Fed rate-cut outlook

nl.investing.com (Dutch)

Gold prices were nearly unchanged Friday as renewed Strait of Hormuz tensions clouded Federal Reserve outlooks, with markets pricing a 60% chance of a September rate hike. Iran attacked what it called "hostile targets" in the Strait and threatened to block US and Israeli ships, following earlier signals of an imminent Oman-brokered shipping deal. A Houthi assault on Saudi-backed forces heightened concerns of broader regional escalation. Thursday's rally above $4,300 faded as inflation concerns revived. Chinese gold-backed ETFs logged 14 consecutive inflow sessions, and analysts said Friday's US jobs report would likely set near-term direction.


With a significance score of 1.7, this news ranks in the top 30% of today's 33251 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers: