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Gold Edges Higher as Oil Retreat Eases Inflation and Rate-Hike Concerns

By Chee Liang CFA4 min read

London, 24 July 2026 – Gold prices edged higher on Friday after reversing earlier losses, as a pullback in crude oil eased concerns that an energy-driven inflation shock could force the United States Federal Reserve to raise interest rates more aggressively.

Spot gold gained 0.4% to US$4,061.36 an ounce, while US gold futures rose 0.3% to US$4,063.60. Bullion recovered as oil prices fell back after briefly surpassing US$100 a barrel, reducing some of the immediate pressure on global inflation expectations.

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Author

  • Chee Liang CFA specializes in financial advice and global economic trends, delivering clear insights to help readers navigate markets, investments, and the shifting dynamics of the world economy.