Gold slips amid oil rise, US says blocked Iranian missiles
Business
Gold prices slipped a bit on Wednesday, mostly because oil prices are climbing and inflation worries are back, thanks in part to fresh tensions in the Middle East.
The US military says it blocked Iranian missile attacks on Bahrain and Kuwait, making things even more tense in the Gulf.
Now, investors are watching for US jobs data to see what might happen next with interest rates.
Spot gold falls to $4,476.50
Spot gold dropped 0.2% to $4,476.50 per ounce, while US gold futures fell 0.3%.
Oil went up over 1%, fueling more inflation concerns.
Swiss gold exports took a 20% hit in April (mainly less going to Britain and China), but India and Hong Kong picked up some of the slack.
Silver, platinum, and palladium also saw small price drops.