Surging Oil, Gold Prices an Indicator of Looming Inflation

June 3, 2024 10:05:00

In the last 12 months, the price of gold has risen by more than 20% while that of oil has increased by 15%. Investors of the precious metal are currently having a good run, with gold severing its ties with interest rates in the United States to trade at new highs.

As of Tuesday this week, U.S. gold futures were trading at $2,356.50 per ounce while the price of spot gold stood at $2,357.4 an ounce. Earlier this…

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