oil prices<\/strong><\/a> than the military headlines themselves.<\/p>\nCrude oil rallied through the week as traders priced in the possibility of supply disruptions across the Middle East.\u00a0Higher energy prices immediately raised questions about inflation. If oil keeps moving higher, gasoline, transportation and production costs are likely to follow. That\u2019s the part of the story the gold market couldn\u2019t ignore.<\/p>\n
Normally, geopolitical tensions are enough to bring buyers into gold.\u00a0This week was different. The concern wasn\u2019t simply that the conflict could spread.\u00a0The concern was that higher oil prices could make the Federal Reserve\u2019s job even harder.<\/p>\n
Fed Repricing Did More Damage Than Any Headline<\/p>\n
The rates market remained the biggest influence on gold Friday.<\/p>\n
Earlier inflation reports suggested price pressures were continuing to cool.\u00a0Under normal circumstances, that would have supported expectations for lower interest rates later this year.\u00a0Instead, traders questioned whether those inflation trends would hold if crude oil continues climbing.\u00a0That pushed Treasury yields<\/strong> higher and gave the U.S. dollar<\/strong> another boost. Neither move was friendly for gold.<\/p>\n","protected":false},"excerpt":{"rendered":"Daily September WTI Crude Oil Futures The fighting between Israel and Iran kept geopolitical risk elevated, but gold…\n","protected":false},"author":2,"featured_media":1099967,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[6],"tags":[51,329,1742,1743,327,1744,1745,1746,16,15,78978,1748],"class_list":["post-1099966","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-commodities","tag-daily","tag-fundamental","tag-gold","tag-home-page-2","tag-james_gold_forecast","tag-technical","tag-uk","tag-united-kingdom","tag-wti-crude-oil","tag-xau-usd"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116950641345537709","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1099966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1099966"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1099966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1099967"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1099966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1099966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1099966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}