Economy
Gold Hits Two-Month High as Oil Prices Fall Over Revised 2026 Demand Forecasts
Gold surged to its highest level in over two months, reaching $4,433.62 per ounce, while oil prices dropped after analysts lowered global demand forecasts for 2026.
Oil prices declined by more than one dollar following downward revisions to global oil demand projections for 2026 by analysts.
Brent crude futures fell $1.29, or 1.5 percent, to $87.69 a barrel. U.S. West Texas Intermediate (WTI) crude dropped $1.30, or 1.6 percent, to $81.97 a barrel.
Gold’s two-month peak
Gold reached its highest point in over two months, climbing 0.6 percent in spot trading to $4,433.62 per ounce by 01:08 GMT. Earlier in the session, it had jumped approximately 1 percent to its strongest level since June 5.
U.S. gold futures for December delivery rose 0.6 percent to $4,493 per ounce.
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