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Moneycontrol

US-Iran tensions and 68% September Fed hike odds keep gold volatile as prices test $4,040–$4,090 range

AI Market Summary
Escalating US-Iran tensions lifted oil over 5%, reviving inflation concerns, while markets price higher odds of a Fed hike (68% for September). Gold is caught between safe-haven demand and the headwind from higher yields and a stronger dollar, leaving prices range-bound around key technical levels. Near-term volatility is likely as geopolitics and Fed expectations compete to set direction.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.19%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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The U.S. said it is ending an interim arrangement with Iran, after which Iran said it had struck U.S. military bases in Bahrain and Kuwait, intensifying Middle East tensions. Crude oil jumped more than 5% in a day, stoking inflation worries, while markets have lifted the probability of a U.S. Federal Reserve rate hike in September to 68% and by January 2027 to 87%. Gold is being pulled between safe-haven demand and higher-rate expectations, and is now consolidating around a key $4,040–$4,090 per ounce technical band.
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