Gold remains range-bound at $4,400 while Brent crude hits $100 a barrel, reflecting heightened inflation concerns and geopolitical instability in the Middle East ahead of key US economic data.
Brent crude hit $100 a barrel for the first time since July, highlighting inflation concerns and supply risks from Middle East tensions.
Gold steadied near $4,400 as traders weigh US inflation data and Fed rate-hike path, balancing portfolio hedge demand against rising Treasury yields.
Silver was little changed after adding 2.4% in the previous session, tracking gold's consolidation.
The Bloomberg Dollar Spot Index fell 0.1%, lending support to dollar-denominated commodities.
Platinum edged higher alongside other precious metals amid steady overall market sentiment.
Palladium edged higher in tandem with platinum, showing modest strength.
Gold prices steadied near $4,400 an ounce as investors await critical US inflation data to gauge the Federal Reserve's interest rate trajectory. Meanwhile, Brent crude surged to $100 a barrel for the first time since July, driven by escalating geopolitical risks in the Middle East that threaten global energy supplies. The dollar weakened slightly, providing a modest tailwind for precious metals.
Brent crude hitting $100 a barrel intensifies inflation concerns and highlights potential supply chain disruptions stemming from the ongoing conflict in the Middle East.