Gold Wavers Near $5,000 as Mideast War Keeps Oil Prices Elevated

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold bars displayed inside a bullion store in Sydney, Australia.Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies.Bullion traded either side of $5,000 an ounce, falling as much as 1% before paring losses. The metal steadied after dropping for a second straight week, under pressure from rising energy prices and inflationary concerns arising from the US-Israeli war with Iran. Crude erased early gains on Monday and a gauge of the dollar slipped, helping to support commodities priced in the US currency.