Gold Watch: $4,500 Level in Focus for Next Move
Gold held close to $4,500 an ounce heading into the weekend, logging a second week of losses. Oil-fueled inflation concerns and rising Federal Reserve rate-hike bets offset some safe-haven demand for bullion. StoneX’s Rhona O’Connell said investors are “fixed upon Hormuz,” tying risks around the Strait of Hormuz to supply chain fears, inflation and chances for higher rates.