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Gold's outlook depends on Fed moves amid Middle East tensions
Gold prices are stabilizing around $4,021 per ounce amid investors awaiting the trajectory of U.S. Federal Reserve policy, amid escalating tensions in the Middle East—especially after oil prices surpassed $90 a barrel and Iran threatening to halt the ceasefire. Analysts expect interest rates to remain steady throughout the year, with potential support for gold between $3,800 and $4,000, following its worst quarterly performance since 2013—a 14% decline in the second quarter. The current trend is linked to increasing inflationary pressures resulting from rising energy prices, which could impact the dollar currency and bond yields.
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