Gold Above $4,300 an Ounce as Middle East Talks Ease Rate-Hike Bets -- Market Talk
Dow Jones2026/08/06 07:580757 GMT - Gold prices hold above the $4,300-an-ounce mark after Wednesday's rally amid growing optimism that a deal to reopen the Strait of Hormuz will ease inflationary pressures and interest-rate hike expectations. "The market is increasingly focusing on the disinflationary implications of lower energy prices," analysts at ING say. "Expectations for Federal Reserve tightening have eased, improving the outlook for non-yielding assets such as gold." Oil prices are headed for a weekly loss of more than 8%, with Brent crude trading below $80 a barrel as investors grow optimistic about negotiations between Iran and Oman on reopening of the Strait of Hormuz. In early trading, New York gold futures rise 0.2% to $4,314 a troy ounce, up nearly 4% on the week. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
August 06, 2026 03:58 ET (07:58 GMT)
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