Gold breaks the $4,400 threshold amid fading inflation fears, while Brent crude continues its downward trend to $98.46 per barrel following pipeline supply stabilization.
Gold hits a weekly high above $4,400 per ounce as inflation concerns fade and investors seek the metal as a store of value.
Brent crude prices continue declining to around $98.46 per barrel as inflation concerns fade and Saudi Arabia's key East-West pipeline is restored.
Gold prices surged to a weekly high of $4,439.80 per ounce as inflation concerns cooled, driving investors toward the precious metal as a store of value. Conversely, Brent crude prices retreated to $98.46 per barrel, pressured by the restoration of Saudi Arabia's East-West pipeline and the Federal Reserve's recent interest rate hike.
Gold is benefiting from its status as a store of value as inflation concerns fade, while oil prices are declining due to the restoration of Saudi Arabia's key East-West pipeline and the impact of recent Federal Reserve interest rate hikes.