Oil Price Surge Sparks Concerns Over Rate Hikes as Gold Tests $4,000 Support
Gold prices tested the key support level of $4,000 per ounce amid rising oil prices and renewed fears of inflation-driven rate hikes by the Federal Reserve. The collapse of a US-Iran ceasefire triggered energy cost concerns, pushing 10-year Treasury yields to two-week highs.
Topics: fed rate hike speculation gold inflation expectations oil prices