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2026-07-17 09:50:12
[Gold prices under pressure after hawkish comments from Fed officials, recording worst performance in nearly six weeks] (1) Although gold prices rebounded slightly on Friday, they have fallen more than 3% so far this week, still marking the largest weekly drop in six weeks. The main reason is the renewed escalation of the US-Iran conflict, which pushed oil prices up by about 12% this week, exacerbating inflation concerns and reinforcing market expectations that interest rates will remain at a higher level for a longer period of time. (2) Fed officials have recently released a series of hawkish signals: Dallas Fed President Logan publicly called for an interest rate hike, Vice Chairman Jefferson hinted that he would support an interest rate hike if inflation does not improve in the short term, and Kansas City Fed President Schmid emphasized that inflation stickiness remains the focus of monetary policy. (3) The number of initial jobless claims in the United States fell last week, and retail sales in June only increased slightly due to the drag from gasoline prices; other precious metals such as silver, platinum and palladium are also expected to record weekly declines this week.
