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Gold approaches two-week high ahead of Fed decision
Gold prices registered an increase near their highest level in two weeks, supported by technical buying and investor expectations ahead of next week's US Federal Reserve meeting to discuss interest rate forecasts. Spot gold prices rose by 0.9% to $1,413.73 per ounce, while August futures contracts increased by 1.1% to $1,419.10. This comes amid escalating geopolitical tensions in the region, as the US military carried out strikes on Iranian targets after Kuwait's defenses intercepted Iranian drones, thereby boosting demand for gold as a safe haven amid the prevailing instability.
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