Gold falls to near $4,800 as oil-fueled inflation dims rate-cut hopes

Image via FXStreet

Gold price (XAU/USD) tumbles to around $4,800, snapping the two-day winning streak during the early Asian session on Thursday. The ongoing tensions in the Middle East created a safe-haven rush, but that momentum faded as oil prices surged.

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AI Executive Brief

/ Gold price drops to around $4,800, ending a two-day rise.
/ Middle East tensions initially drove a safe-haven rush.
/ Oil price surge diminished hopes for interest rate cuts, impacting gold demand.

AI-generated summary for informational purposes. Verify with original source.

Gold falls to near $4,800 as oil-fueled inflation dims rate-cut hopes

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