{
  "id": 6672394,
  "title": "Gold stays under pressure as surging oil strengthens Fed rate-hike bets",
  "url": "https://urgent.news/2026/09/11/gold-stays-under-pressure-as-surging-oil-strengthens-fed-rate-hike",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-11T00:11:32.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-stays-under-pressure-surging-oil-strengthens-fed-rate-hike-bets"
  },
  "original_language": "en",
  "account": "Gold is under pressure as surging oil prices fuel expectations of US Federal Reserve rate hikes. The precious metal declined slightly, remaining near $4,320 an ounce after falling 1.8% the previous day to the lowest since early August. US inflation data released on Sep 10 showed a 0.4% rise in the producer price index for August, the highest since May, driven by increasing energy costs due to Middle East conflicts. Brent crude oil prices surged close to $108 a barrel, as Iran and the US engaged in escalating hostilities, including US strikes on Iranian oil tankers, Iranian missile attacks on a Jordanian airbase, and Houthis attacking Saudi Arabian infrastructure. Higher-than-expected bond yields raised doubts about the effectiveness of US Treasury Secretary Scott Bessent's unconventional intervention, which aimed to stabilize the market and curb long-term yield increases. Gold, which usually underperforms when yields are high, is now attracting attention from investors. They are monitoring the upcoming release of the US consumer price index on Friday for additional insights into Fed policy ahead of the central bank's Sep 15-16 meeting. Swaps traders currently estimate a 70% probability of a rate hike. Spot gold remained stable at $4,318.48 an ounce in Singapore at 7:25 am. Silver dipped 0.1% to $63.58 an ounce, falling 5.5% on Thursday, its most significant decline since June. Platinum and palladium remained unchanged. The Bloomberg Dollar Spot Index, a measure of the US dollar, held steady after climbing 0.3% the previous session.",
  "summary": "Precious metal faces growing pressure from higher energy prices as fighting escalates in the Middle East",
  "key_points": [
    "Gold declines near $4,320 an ounce as oil prices surge",
    "US inflation rises 0.4% in August, driven by energy costs",
    "70% probability of Fed rate hike before Sep 15-16 meeting"
  ],
  "editors_take": "Surging oil prices and higher bond yields are strengthening expectations of US Federal Reserve rate hikes, which typically weigh on gold, a metal that underperforms when yields are high.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Gold eyes $4,300 break as USD sticks to gains amid Fed hike bets, ahead of US CPI",
        "url": "https://urgent.news/2026/09/11/gold-eyes-4-300-break-as-usd-sticks-to-gains-amid-fed-hike-bets-ahead",
        "published": "2026-09-11T03:45:50.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}