Gold Extends Longest Drop in a Decade as Diesel Rises Despite Trump's Russia Deal

AI desk brief

Gold fell 0.3% to $4,174/oz in London as higher crude and diesel prices kept inflation/energy pressures elevated, extending its seventh straight weekly decline and longest weekly losing streak since late 2016. Heraeus said persistent Middle East tensions are supporting oil, while the dollar index held near an 18-month high, a headwind for bullion.

The article also flagged cross-metal effects: platinum rose 0.3% to $1,692/oz, palladium gained 0.2% to $1,156/oz, and silver climbed 0.9% to $60.75/oz after recent weekly declines. Trump’s Russian diesel easing is framed as adding supply, but the article says the promised volumes remain small versus U.S. consumption, while new Saudi/Houthi tensions and refinery disruptions keep fuel markets tight.