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Gold Holds Gains Amid US Rate Pause
Gold maintained its gains after the decline in expectations of a U.S. interest rate hike, amid increased oil supplies from the Middle East and falling Treasury yields, which eased pressure on the Federal Reserve to raise interest rates in October. Gold was trading near $4,165 per ounce, following a 0.6% increase the previous day, with the price remaining steady at $4,167.05. This comes amid rising geopolitical tensions in the Strait of Hormuz and attacks on oil tankers, as well as a decrease in expectations of an interest rate hike, while gold's status as a safe haven continues to grow amid international uncertainty.
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