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Canada Signs $900 Million Deal to Boost Oil Sands Production
Metals Sector Surpasses Iran's War Impact, Risks Remain
Reasons Behind Rising Petroleum Derivative Prices in Markets
Investors Reprice US Interest Rate Outlook as Federal Reserve Expectations Shift
Nigeria's Oil Production Reaches Highest Level in Over Six Years
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Gold prices rose on Tuesday after hitting a two-week low during the session, amid market anticipation of U.S. inflation data that influences expectations for U.S. interest rates. This came alongside rising tensions between the United States and Iran and a surge in oil prices. Gold is viewed as a hedge against inflation, although higher interest rates may reduce its appeal. The spot price increased by 0.58% to around $4,024 per ounce. Investors are now awaiting the U.S. Consumer Price Index data for June to gauge the inflation trend and monetary policy direction.
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