Crude Oil Softening Reduces Inflation Pressure, Dampens Gold Demand

The dip in crude‑oil prices added to the downward pressure on precious metals. WTI crude traded near $68.30 per barrel and Brent around $71.67, following a reduction in geopolitical tension between the United States and Iran and the restoration of normal energy flows through the Hormuz Strait. Lower oil prices are expected to ease inflationary concerns, which in turn weakens the safe‑haven appeal of gold. Earlier in the week, a softer jobs report in the United States and weaker oil prices had sparked a brief rally in gold and silver, as investors anticipated a more dovish stance from the Federal Reserve in 2026. However, the recent dollar rally and oil respite reversed that momentum.