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Gold holds near 4050 dollars as oil prices retreat
Kitco··25 Jul
Spot gold traded near 4,052 dollars an ounce on July 24, up 0.08 percent, while silver rose 0.87 percent, Kitco reported. US equities closed mixed with the Dow up 0.5 percent and Nasdaq down 0.6 percent. Brent crude fell to 96 dollars 78 cents from above 102 as peace talk reports cooled the war premium.
Prism
What It Means For You
- Investors tracking gold may watch Hormuz and Fed decisions closely.
- Mixed equity moves suggest cautious positioning amid oil volatility.
- Lower oil from Thursday highs may ease near term inflation fears.
What's Happening
- Spot gold traded near 4,052 dollars 70 cents on July 24.
- Brent crude fell to 96 dollars 78 cents from above 102.
- US stocks closed mixed with Dow gains and Nasdaq losses.
Precious Metals Setup
- Gold support sat near 4,021 dollars 20 cents with resistance at 4,080.
- Ten year Treasury yields eased to 4.678 percent.
- Strait of Hormuz stress keeps geopolitical premium in markets.
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