23:50 - 6.08.2026

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August 6, Fineko/abc.az. Gold prices stabilized on Thursday after earlier gains, as a surge in oil prices—triggered by reports of Iran considering vessel restrictions in the Strait of Hormuz—reignited global inflation fears and interest rate hike expectations.

Spot gold traded steadily around $4,244.29 per ounce.

Higher energy prices feed directly into consumer price pressures, prompting central banks to maintain elevated interest rates for longer. Market participants currently price in a 57% probability of a Federal Reserve rate hike in September and an 84% chance in December. Elevated interest rates increase the opportunity cost of holding non-yielding bullion, dampening investor momentum.

Among other precious metals, spot silver dropped 0.9% to $61.54 per ounce, platinum slipped 0.6% to $1,724.64, while palladium gained 0.6% to reach $1,371.48 per ounce.