Global markets volatile as oil slips and gold edges higher
Brent and WTI prices declined slightly during the week ending Sept. 18, while gold rose 0.16%.
Brent and WTI ended the week slightly lower, while gold recorded a modest increase. Market movements were influenced by Middle East tensions, oil supply concerns, the dollar and the Federal Reserve’s interest-rate decision.
Oil and gold markets fluctuated last week amid Middle East geopolitical developments, concerns over supply disruptions and U.S. monetary policy. Brent crude fell 0.74% to $103.87 a barrel, while West Texas Intermediate declined 0.52% to $99.53, according to Investing data. Gold futures rose $7, or 0.16%, to $4,415.90. Reuters reported that concerns over attacks and potential supply disruptions supported oil prices, while additional shipments and efforts to restore pipeline operations eased some market pressure. Lower oil prices helped support gold, although a stronger dollar and the Federal Reserve’s 0.25-percentage-point rate increase limited its gains.