Oil Holds Near $85 as US-Iran Tensions Fuel Inflation Worry; Gold Slips 1.6%
Crude stayed elevated around $85 a barrel amid the US-Iran standoff over the Strait of Hormuz, while gold dropped 1.6% to $4,343.93 as markets weighed risks to equities.
XAUUSD
Crude prices remained elevated around $85 a barrel as the US-Iran standoff over the Strait of Hormuz continued, adding to inflation concerns in global markets.
Gold fell 1.6% to $4,343.93. Investors were watching whether higher energy costs and elevated borrowing rates could trigger a broader equity-market correction.
Source: First Squawk