Gold dips as Israel’s limited strike on Iran curbs haven demand; oil slumps

Quick Summary:

NEW YORK – Gold edged lower from near record-high levels after Israeli strikes on Iran over the weekend appeared to be more restrained than many expected.

Oil has been buffeted by geopolitical risks in the Middle East, ample supply and lackluster demand growth in China.

Money managers have also played their part, with hedge funds raising net-long positions in gold and investors adding to exchange-traded fund holdings.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaIsrael

Topics: Israeli Lower All-time Months Cent Iran Year Peaking Surged Gold Media

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 10:02:14 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 442 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23276632

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

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Headquarters: Singapore

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