On Tuesday gold was $4,546.80 as silver fell to $73.30
Business
Gold prices ticked up a bit on Tuesday, was last at $4,546.80 per ounce, while silver dipped to $73.30 per ounce.
The move came as oil prices stayed high; Brent crude held steady at $114 per barrel, thanks to tensions near the Strait of Hormuz and ongoing U.S.-Iran issues, which are making global markets a little jumpy.
Central banks tightening caps gold silver
Rising energy costs are fueling inflation fears worldwide, so central banks are tightening policies, which is capping gold's and silver's gains.
Kaynat Chainwala from Kotak Securities pointed out that the US Fed's tough stance means rate cuts aren't coming soon, keeping both metals near one-month lows.
Analysts expect gold to hover between $4,500 and $4,850 and silver between $71 and $80 for now as uncertainty continues.