Gold edges higher on subdued USD, but hawkish Fed and Iran tensions cap gains
Gold edged higher during Asian trade on Wednesday, breaking a two-day losing streak after falling below $4,100, though gains remain limited by hawkish Fed expectations and US-Iran geopolitical tensions.
XAUUSD
Gold (XAU/USD) inched up during the Asian session on Wednesday, snapping a two-day losing streak after touching a weekly low below $4,100 the previous day.
Despite the uptick, gains are expected to remain capped as a hawkish Federal Reserve stance and escalating US-Iran tensions weigh on the precious metal. Markets continue to price in higher-for-longer US interest rates, while geopolitical uncertainty provides only limited safe-haven support.
Source: FXStreet Forex News