Oil and gold prices rose as geopolitical tensions escalated, drawing investors' attention to the US Consumer Price Index (CPI). This was reported by Qazaqyia.kz citing Reuters.
Market participants are awaiting the release of inflation data, which could influence the Federal Reserve's monetary policy. Geopolitical risks, including tensions in various regions, increased demand for safe-haven assets, supporting gold prices.
Oil prices also rose on concerns about supply disruptions. Traders are closely monitoring global economic indicators and political events. The upcoming CPI data could provide important information about the level of inflationary pressure, affecting central bank decisions.
According to analysts, if CPI comes in higher than expected, it could lead to a continuation of the Fed's hawkish policy, strengthening the dollar and putting pressure on gold. However, the persistence of geopolitical risks supports gold's appeal as a defensive asset.
In the oil market, OPEC+ decisions on production levels could also impact prices. Additionally, demand dynamics in the world's largest economies are in focus. Investors are awaiting key economic indicators to be released next week.
Overall, markets remain sensitive to geopolitical news and macroeconomic data, and the upcoming CPI figure could determine short-term price movements.