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4w ago

Gold Holds Near $4,100 After Renewed U.S.-Iran Strikes and Fed Uncertainty

Rising oil and inflation risks are lifting expectations of higher U.S. interest rates, which increase the cost of holding non‑yielding gold.

An employee places gold bars in the Kazakhstan's National Bank vault in Almaty, Kazakhstan, September 30, 2016. REUTERS/Mariya Gordeyeva/File Photo
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Overview

  • Spot gold has settled around $4,100 per ounce after a multi-day selloff and a partial rebound that left the metal on track for a modest weekly loss this week.
  • Fresh U.S.-Iran military exchanges on Thursday pushed oil prices higher and sent investors back into safe-haven assets, giving bullion short-lived support.
  • Minutes from the Federal Reserve’s June meeting showed division among policymakers, which added short-term demand for gold but also kept the chance of more rate hikes alive.
  • HSBC cut its 2026–27 average gold forecasts on Thursday, citing a stronger dollar and a hawkish shift in U.S. rate expectations while noting central-bank purchases have moderated and H1 ETF outflows were heavy.
  • Local price moves differ by market because currency changes, import duties and weak retail demand in places such as India and Pakistan mean international swings translate unevenly for consumers.