Gold Prices Fall Amid Iran Deal Uncertainty and Rate-Hike Expectations

Gold prices declined this week as rising energy costs pushed bond yields higher, increasing expectations that the Federal Reserve will raise interest rates further to control inflation. Oil prices fell after talks suggested a phased deal to reopen the Strait of Hormuz and lift a US port blockade. Despite some support from lower Treasury yields, gold dropped 2.4% due to inflation concerns and higher borrowing costs. US consumer sentiment also fell to a four-month low in September amid price worries.

Tip: use ↑ / ↓ (or j / k) to move between stories.