Gold Price — FXPAYBACK

Why Did Oil Jump 5%, Then Fade, on Iran Strike Fears?

Oil jumped about 5% on October 8 because reports said the White House had asked the Pentagon for fresh Iran strike options, Iranian attacks on Hormuz tankers were rising, and a storm shut US Gulf of Mexico output. Brent hit $105, then slipped toward $103 after Trump said the US won’t attack Iran before the midterm elections.

FOMC minutes: will the Fed hike again and what it means for gold

Will the Fed Hike Again? What the FOMC Minutes Mean for Gold

Leave a Comment / Blog / Hamid Ul Hassan

Yes, the Fed is leaning toward another hike. Minutes of the September 15–16 meeting, released October 7, show most officials think one more rate increase will likely be needed by year end. That pushed the dollar up and gold briefly below $4,100, a two-month low, because higher rates make non-yielding gold less attractive.

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