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Gold reverses gains as US CPI data takes center stage
Gold (XAU/USD) reverses earlier gains on Tuesday as fading hopes for a near-term breakthrough in US-Iran negotiations and a modest rebound in the US Dollar (USD) weigh on the precious metal ahead of the US Consumer Price Index (CPI) data release.
Fxstreet
Tue, May 12
WTI Price Forecast: Extends advance to near $98 amid fears of prolonged Hormuz closure
West Texas Intermediate (WTI), futures on NYMEX, is 2.6% higher to near $98.00 during the European trading session on Tuesday. The oil price gains sharply amid growing doubts that the temporary ceasefire between the United States (US) and Iran, announced in early April, would last long.
Gold: Path higher hinges on Fed easing – ING
ING’s Commodities Strategist Ewa Manthey explains why Gold has dropped about 12% since the Iran conflict began, despite its reputation as a safe haven. She argues the move reflects macro headwinds from higher Oil prices, stronger US Dollar (USD) and elevated real yields.Fxstreet
Tue, May 12
WTI rises to near $96.00 as supply concerns prevail
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $95.80 during the Asian hours on Tuesday. Crude oil prices are surging as Middle East tensions are threatening the world’s most critical energy transit route.Gold eases from three-week top as Iran tensions and hawkish Fed bets support USD
Gold (XAU/USD) retreats from a three-week high, touched during the Asian session on Tuesday, as traders await the release of the latest US consumer inflation figures before positioning for the next leg of a directional move.Fxstreet
Tue, May 12
Silver Price Forecast: XAG/USD trades firmly near two-month high of $86.50 ahead of US CPI
Silver price (XAG/USD) holds onto its almost week-long rally to near $86.50 during the Asian trading session on Tuesday. The white metal trades firmly even as oil prices are broadly stable amid fears that military actions between the United States (US) and Iran could resume.US President Donald Trump says US-Iran ceasefire on ‘massive life support’
US President Donald Trump said the ceasefire between the United States (US) and Iran is on “massive life support” after he rejected Tehran’s latest peace offer, which he called “simply unacceptable,” Bloomberg reported on Monday.Gold drifts higher to near $4,750 ahead of US CPI inflation release
Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.Fxstreet
Mon, May 11
Gold rises as Trump rejects Iran deal, war risks increase
Gold (XAU/USD) price advances modestly by 0.30% on Monday as the Iran-US conflict resolution stalls following Tehran’s proposal, which was disregarded by US President Donald Trump, who said that it was “totally unacceptable.” At the time of writing, XAU/USD trades at $4,726 after bouncing off dailyFxstreet
Mon, May 11
Silver price rallies to two-month high as US-Iran tensions boost haven demand
Silver (XAG/USD) extends its rally on Monday and trades around $84.85 at the time of writing, up 5.60% on the day. The white metal continues its bullish momentum, breaking to fresh two-month highs, supported by strong safe-haven demand amid escalating geopolitical tensions in the Middle East.Fxstreet
Mon, May 11
Gold gaps lower as higher-for-longer Fed outlook weighs on sentiment
Gold (XAU/USD) opens the week with a bearish gap as persistent uncertainty surrounding the US-Iran war continues to fuel Oil-driven inflation fears, maintaining pressure on central banks to keep borrowing costs elevated.Fxstreet
Mon, May 11
WTI Oil tests levels above $96.00 as hopes of Hormuz reopening fade
Crude Oil prices have opened the week in a bullish tone, following US President Donald Trump’s rejection of Iran’s latest peace proposal. The US benchmark West Texas Intermediate (WTI) has jumped by about $4, from Friday’s close around $91.75 to $95.70 at the time of writing.Featured Tools
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