Gold price today: Why is gold near a 7-week low as oil prices rise? | Hindustan Times - Hindustan Times

AI desk brief

Gold stayed near a 7-week low after a sharp 4% prior-session drop, with spot gold up 0.4% to $4,131.10/oz while futures slipped 0.2% to $4,162.32/oz. The selloff is being driven by higher oil prices, which are stoking inflation concerns, and a jump in U.S. Treasury yields, including a fresh 19-year high in the 10-year, which raises gold’s opportunity cost and revives talk of another Fed hike.

The article ties the oil move to unresolved U.S.-Iran tensions around the Strait of Hormuz, with the conflict seen as disrupting energy flows and keeping inflation risk elevated. Near term, that mix of higher yields and inflation-linked policy uncertainty remains a headwind for bullion despite the modest rebound.