Gold prices dip as oil-driven inflation concerns weigh
GLD•Other metals and outlook
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Goldman Sachs said on Friday it still sees upside risk to its forecast for gold to reach $4,900 an ounce by the end of 2026, although it expects price volatility to remain elevated.
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Elsewhere, two European Central Bank policymakers left the door open to further rate hikes if conflict-driven increases in energy prices feed through to broader inflation in the euro zone.
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Among other metals, spot silver XAG= slipped 1.1% to $63.75 per ounce on Monday, platinum XPT= dropped 0.8% to $1,782.50, and palladium XPD= slid 0.7% to $1,290.36.
Oil and geopolitics add pressure
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Oil prices jumped more than 2% on Monday after fresh Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline. O/R
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Middle East diplomacy appeared to falter after a meeting between Iran and other Gulf states was postponed.
Gold eases as oil rally boosts inflation worries
Sept. 14 (Reuters) - Gold prices edged lower on Monday as a rally in oil prices fuelled inflation concerns and reinforced expectations that the U.S. Federal Reserve could raise interest rates at its policy meeting this week.
