Gold retreated from two-week highs as oil rose
Capitals, July 23, WAM / The price of gold fell today, Thursday, from its highest levels in two weeks recorded in the last session, amid escalating tension in the Middle East and rising oil prices.
Gold settled in spot transactions, by 03:24 GMT, at $4,132.01 per ounce after rising to $4,165.87 in the last session, which is its highest level since the seventh of this July.
US gold futures for August delivery fell 0.4% to $4,134.60.
Oil prices rose to their highest levels in more than six weeks, while the dollar fell 0.1%, making gold priced in the US currency less expensive for holders of other currencies, while two-year US Treasury bond yields rose to their highest level in 17 months.
As for other precious metals, the price of silver in spot transactions rose 0.3% to $59.90 per ounce, the price of platinum rose 0.7% to $1,656.24, and the price of palladium increased 0.8% to $1,301.25.
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