Daily Market Report
➢ Tame US CPI data dampened Fed rate hike bets, sending gold to a two-month peak before it paused as oil-driven inflation concerns resurfaced.
➢ Gold retreats from its June 5 high as rising oil prices revive Fed rate hike bets, underpinning the USD and capping bullion’s gains.
➢ Iran reported no progress on an interim peace deal with the US, keeping geopolitical tensions elevated and limiting gold’s downside.
➢ Silver wobbles around $65.40 but its outlook strengthens as easing hawkish Fed bets reduce pressure on the metal.
➢ WTI declines below $82.50 after oil inventories rose far more than expected, easing some of the energy-driven inflation fears.
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