Gold rebounds 0.4% to $4,123.55/oz as traders await Fed minutes amid fresh U.S.-Iran strikes
AI Market Summary
Gold firmed as investors awaited Fed June minutes while renewed U.S.-Iran escalation lifted geopolitical and inflation-risk premia. However, rising Treasury yields and a stronger dollar, alongside higher market-implied odds of a September Fed hike, limited upside for non-yielding bullion. The mix of oil-driven inflation concerns and tighter-rate expectations keeps near-term positioning sensitive to Fed messaging and further Middle East headlines.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT+2.18%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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Gold rose 0.4% to $4,123.55 per ounce, paring losses after earlier touching its lowest level since July 2, as markets looked ahead to minutes from the Federal Reserve’s June meeting. Iran’s Revolutionary Guards said they struck U.S. military sites in Bahrain and Kuwait in retaliation for U.S. strikes on Iran and the revocation of a licence allowing Iran to sell oil, after three tankers were hit by projectiles in the Strait of Hormuz. U.S. Treasury yields climbed and the dollar index reached a one-week high, while markets priced the probability of a September Fed rate hike at over 63%.
