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The Hindu Business Line

Gold drops 1.02% to $4,063.67/oz as Trump declares Iran peace deal 'over', oil jumps over 5%

AI Market Summary
Trump's declaration that the US-Iran interim peace deal is "over" and subsequent Iranian attacks on US bases pushed oil up >5%, intensifying inflation and rate-hike concerns. Gold fell ~1% to a multi-day low as higher real-rate expectations weighed on non-yielding assets; September Fed hike odds rose to 66% ahead of Fed minutes. The move also pressured broader precious metals.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.81%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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US President Donald Trump said an interim peace deal signed with Iran in June was “over” and that he did not want to engage with Tehran. Iran’s Revolutionary Guards then said they targeted US military bases in Bahrain and Kuwait. Spot gold fell 1.02% to $4,063.67 per ounce, its lowest since July, while crude oil rose more than 5%. Markets also priced in higher US rates, with the probability of a September Fed hike rising to 66%.
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