Oil, gold prices rise as geopolitical tensions mount before CPI
Lack of progress in peace talks and Iran's control of the Strait of Hormuz are keeping oil prices high and US indices subdued, says analyst.
Oil and gold prices experienced an uptick as geopolitical tensions heightened ahead of key US inflation data. The US dollar and Japanese yen exhibited relatively stable movements after Japan and the US intervened in currency markets. Conflicting reports emerged from separate attacks on shipping by Iran-aligned Houthis and North Korea's missile launch, causing market concern.
Analysts noted that geopolitical risks and upcoming CPI data would influence market sentiment. Both crude oil and gold prices rose while regional shares in Asia-Pacific showed modest gains.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Oil, gold prices rise as geopolitical tensions mount before CPI brecorder.com
- Oil, gold prices rise as geopolitical tensions mount before CPI myjoyonline.com
- Oil, gold prices rise as geopolitical tensions mount before CPI freemalaysiatoday.com
