12:29 - 20.07.2026

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July 20, Fineko/abc.az. Escalation of the conflict in the Middle East and disruptions in transportation of energy through the Strait of Hormuz triggered a jump in the price of Brent crude above $90 per barrel, which sharply intensified inflationary concerns in global markets.

Growing inflation risks have led US Federal Reserve officials to announce a possible resumption of interest rate hikes, which has reduced the investment appeal of interest-free gold.

As a result, the price of spot gold fell by 0.1% to $4,014.53 per troy ounce, while August futures settled at $4,019.80.

Analysts note that the probability of an increase in Fed's interest rate in December has increased to 82%, and breakout of the key support level of $3,886 could lead to a drop in prices to $3,500. Meanwhile, spot silver has increased by 1.9% up to $56.95 and platinum by 0.5% up to $1,599.97, while palladium has decreased by 0.2% to $1,244.50.