Finance

Spot gold prices surged toward $4,350 per ounce, marking a one-week high and steering the precious metal toward its first weekly gain in a month. The advance was largely driven by a multi-session pullback in crude oil prices, which helped temper immediate concerns regarding persistent inflation. However, further gains were capped by a strengthening US dollar and the prospect of additional interest rate hikes.

Crude oil benchmarks fell roughly 1% on Friday, extending a three-day downward trend though still managing to hold ground around the $100 per barrel threshold. Market anxieties regarding Middle East geopolitical disruptions were partly mitigated by progress on alternative transportation supply routes, including restoration efforts on Saudi Arabia's East-West pipeline. Despite the short-term relief, underlying fears of potential supply shocks keep energy traders cautious.

Digital assets shrugged off a major regulatory setback after the Clarity Act failed to garner the necessary votes to advance through the US Senate. Investors shifted focus past the political standstill as the Commodity Futures Trading Commission independently moved forward with a federal crypto rulemaking package. Buoyed by broader market stabilization, Bitcoin successfully reclaimed the $80,000 threshold while digital asset equities booked sharp midday gains.