Oil and Gold Prices Maintain Gains Despite Pressures

Energy and gold markets witnessed notable fluctuations,

as oil maintained its gains amid a decline in U.S. inventories,

while gold continued to rise on concerns over the Federal Reserve’s independence.

Contents

Oil
Gold

Oil

Steady Despite Falling U.S. Inventories

Oil prices held onto their gains after U.S. crude inventories recorded the largest drop since mid-June, remaining well below the seasonal average.

Brent crude traded near $67 per barrel, while West Texas Intermediate (WTI) settled around $63 per barrel.
Data from the U.S. Energy Information Administration (EIA) showed a decline of about 6 million barrels in crude inventories last week, with gasoline stocks also falling for the fifth consecutive week.

Despite these gains, oil remains down more than 10% since the start of the year due to concerns over U.S. trade policies and market pressures following the end of OPEC+ voluntary cuts.

Gold

Shines Amid Rising Fed Concerns

Gold maintained its gains, trading above $3,342 per ounce after rising about 1%, supported by safe-haven demand.

Political tensions increased after U.S. President Donald Trump called for the resignation of a Federal Reserve board member,

sparking fresh concerns over the central bank’s independence.

Investors are now awaiting Fed Chair Jerome Powell’s speech at the Jackson Hole symposium,

amid expectations of at least a 25 basis point rate cut next month.

Gold has surged by more than 25% since the beginning of the year,

driven by central bank purchases and inflows into exchange-traded funds,

with forecasts suggesting prices could range between $3,200 and $3,600 per ounce through the end of 2025.

Oil and Gold Prices Maintain Gains Despite Pressures

Oil and Gold Prices Maintain Gains Despite Pressures

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