Oil up, gold down

Brent crude prices climbed above $117 a barrel on Friday, while gold fell to its lowest level since November 2025, according to Reuters reporting carried by Shafaq News. Spot gold dropped 2.1% to $3,935.26 an ounce, while US gold futures declined 1.9% to $3,955.50. Oil rose on concerns over renewed strikes on Iran and potential supply disruptions in the Middle East.

A morning market snapshot told the same story in different numbers: gold fell 2.04% to $3,941.05 an ounce by 9:31 a.m. Eastern Time on Friday, while silver dropped more sharply, down 3.83% to $49.771 an ounce. In the same snapshot, West Texas Intermediate crude rose 1.13% to $104.69 a barrel, while Brent gained 1.35% to $117.49.

Why the two moved apart

Crude futures traded higher on Friday morning following reports that the United States was planning to resume military operations against Iran, The Hindu BusinessLine reported. At 10:03 a.m. on Friday, December Brent futures were at $116.04, up 1.01%, and December WTI futures were at $103.14, up 1.12%. Market reports said a potential escalation in the Middle East could lead to oil supply disruptions.

Gold, by contrast, came under pressure as rising oil prices and stronger-than-expected US inflation data fuelled expectations of another Federal Reserve rate rise in December. Higher oil prices add to inflation concerns, which in turn support the case for tighter monetary policy, and that combination has weighed on precious metals through the week.

A fourth monthly oil gain in sight

Oil prices rose on Friday and were on track for a fourth consecutive monthly gain, which would be their steepest since July, Outlook Money reported. December Brent futures briefly approached $118 a barrel before easing to around $116 in early trade, while WTI touched $105 before retreating to around $103. For consumers, the immediate question is whether higher crude feeds through to fuel prices in the coming weeks.

Sources: Reuters via Shafaq News | TokenPost | The Hindu BusinessLine