Energy & Commodities

But they say a breakout above bullion’s recent ceiling near US$4,600 an ounce will not be smooth

Renewed Iran war fighting has rekindled fears of a war that fuels inflation, a headwind for bullion  

Meeting demand will require significant investments in power generation, storage and grid infrastructure

The US dollar-debasement narrative remains supportive of the metal in the medium term

Gold has stepped back into bid mode and is taking its cues primarily from the softer US dollar

Analysts say its higher prices are unlikely to derail data centre growth, but tighter supplies could stymie new capacity

Spot gold is up 1.1% at US$4,285.89 per ounce by 0635 GMT

This comes as supply disruptions from the Middle East conflict lift prices for crude, petrol and diesel

A subdued US dollar makes greenback-priced metals more attractive to holders of other currencies