COMEX gold slips 0.35% to $4,037.50/oz on July 16 as oil rallies stoke inflation concerns
On July 16, COMEX gold futures traded at $4,037.50 per ounce, down 0.35%, while silver futures fell 0.34% to $57.235 per ounce. Brent crude rose to $85.45 a barrel. Softer US June producer-price data reinforced expectations of rate cuts, but escalating US-Iran tensions lifted oil prices and revived inflation worries, weighing on bullion.