Gold Extends Gains Despite Rising Oil Prices

2026-07-22 00:06 By Jam Kaimo Samonte 1 min. read

Gold climbed toward $4,200 an ounce on Wednesday, extending gains from the previous session as investors continued to monitor Middle East uncertainties and rising oil prices and their impact on inflation and interest rates.

President Donald Trump downplayed the chances of near-term talks with Iran and warned of additional strikes, lifting oil prices.

Iran-backed Houthi rebels in Yemen also disrupted shipping through the Red Sea, while a series of attacks on the Caspian Pipeline Consortium terminal along Russia’s Black Sea coast added to supply concerns.

Meanwhile, ADP data showed US private employers added an average of 16,500 jobs per week over the four weeks ending July 4, down from an average weekly gain of 19,250 in the prior four-week period, marking a fourth straight slowdown in hiring.

Markets widely expect the Federal Reserve to leave interest rates unchanged at next week’s meeting, while pricing in more than a 55% chance of a rate hike in September.



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Gold Extends Gains Despite Rising Oil Prices
Gold climbed toward $4,200 an ounce on Wednesday, extending gains from the previous session as investors continued to monitor Middle East uncertainties and rising oil prices and their impact on inflation and interest rates. President Donald Trump downplayed the chances of near-term talks with Iran and warned of additional strikes, lifting oil prices. Iran-backed Houthi rebels in Yemen also disrupted shipping through the Red Sea, while a series of attacks on the Caspian Pipeline Consortium terminal along Russia’s Black Sea coast added to supply concerns. Meanwhile, ADP data showed US private employers added an average of 16,500 jobs per week over the four weeks ending July 4, down from an average weekly gain of 19,250 in the prior four-week period, marking a fourth straight slowdown in hiring. Markets widely expect the Federal Reserve to leave interest rates unchanged at next week’s meeting, while pricing in more than a 55% chance of a rate hike in September.
2026-07-22
Gold Rises as Markets Track US-Iran Diplomacy
Gold rose more than 1% to $4,070 an ounce on Tuesday as investors weighed diplomatic efforts to de-escalate the US-Iran conflict and their potential impact on oil prices, inflation risks, and the Federal Reserve’s interest rate outlook. Reports indicated that mediators are working to bring Washington and Tehran back to the negotiating table, with discussions reportedly including a possible 10-day truce aimed at securing shipping routes through the Strait of Hormuz. The recent escalation in the conflict pushed oil prices to a more than one-month high, raising concerns that higher energy costs could reinforce inflationary pressures. This has prompted a growing number of US policymakers to argue that interest rates may need to remain higher for longer, or potentially rise, to contain inflation. While the Fed is widely expected to keep rates unchanged at next week’s meeting, markets are pricing in more than a 60% probability of a rate hike in September.
2026-07-21
Gold Rises as US-Iran Talks Eyed
Gold climbed above $4,050 an ounce on Tuesday, rebounding from recent losses as investors assessed the potential resumption of peace negotiations between the US and Iran, which could ease energy-driven inflation risks and reduce concerns about interest rate hikes. Mediators worked on Monday to bring both sides toward a new ceasefire, while reports pointed to a possible 10-day truce. However, tensions remained elevated after President Donald Trump warned that Iran would be held responsible for the deaths of three US service members. Iran-backed Houthi militants also announced a maritime embargo against Saudi Arabia, raising concerns over energy shipments through the Red Sea. US Treasury yields climbed sharply this week, with markets now pricing in about a 55% chance of a Federal Reserve rate hike in September, up from 51% a day earlier.
2026-07-21