Gold Analysis July 9 – Gold plunged yesterday to around $4,020 after US President Donald Trump declared that the ceasefire agreement with Iran had ended, sparking fears that a reignited conflict could drive inflation and interest rates higher. Today, the market awaits the initial jobless claims data, scheduled for release at 19:30 Hanoi time.
Reuters reported on Thursday that Trump announced the temporary deal to end conflict with Iran was "over." Additionally, the US President threatened to bomb Iran for the second consecutive day and reimpose a US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. Escalating tensions between the US and Iran have raised inflation fears driven by surging energy prices, potentially cementing expectations that the US Federal Reserve (Fed) could keep interest rates higher for longer to combat persistent inflation. This, in turn, could keep gold prices under downward pressure.
For detailed information, please visit our Forex blog website : https://blogngoaihoi (.)co/
Reuters reported on Thursday that Trump announced the temporary deal to end conflict with Iran was "over." Additionally, the US President threatened to bomb Iran for the second consecutive day and reimpose a US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. Escalating tensions between the US and Iran have raised inflation fears driven by surging energy prices, potentially cementing expectations that the US Federal Reserve (Fed) could keep interest rates higher for longer to combat persistent inflation. This, in turn, could keep gold prices under downward pressure.
For detailed information, please visit our Forex blog website : https://blogngoaihoi (.)co/
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