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FinanceGold falls as traders weigh Fed rate path and Hormuz attacks
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Gold prices fell on July 7, 2026, declining as much as 1.2% to below US$4,120 an ounce, as traders assessed the outlook for US interest rates and renewed attacks in the Strait of Hormuz. Spot gold was down 0.7% at US$4,135.13 an ounce by late morning in London. The pullback from a two-week high reflects market uncertainty over Federal Reserve monetary policy direction and geopolitical risks in the key oil shipping route. The article, published by The Business Times Singapore, highlights the dual pressures on safe-haven assets as investors balance rate expectations against geopolitical tensions.
Source report
Bullion declines as much as 1.2% to below US$4,120 an ounce
Published: Tue, Jul 7, 2026 · 10:13 PM
LONDON — Gold extended a pullback from a two-week high, as traders weighed the outlook for US interest rates and renewed attacks on shipping routes in the Strait of Hormuz.
- Spot gold fell 0.7% to US$4,135.13 an ounce by 11:59 am in London.
- Bullion declined as much as 1.2%, dropping below US$4,120 an ounce earlier in the session.
The decline comes as market participants assess the Federal Reserve's potential rate path amid ongoing geopolitical tensions in the Middle East.
Source
The Business TimesWestern
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