The Fed is seen delivering another large rate hike in three weeks’ time and ultimately lifting rates to 4.75%-5% by early next year, if not further, after the inflation report. Although traditionally considered an inflation hedge, interest rate hikes to combat soaring prices have reduced bullion’s appeal since it yields no interest.
Oil prices fall 1% as investors weigh pause in US strikes on Iran
Oil prices dropped as market participants assessed a pause in US strikes on Iran. Hopes for a diplomatic solution eased concerns about Middle East energy
July 28, 2026