Gold Holds Above $4,100 as Weak USD Offsets Fed Rate Hike Bets Amid US-Iran Tensions
Gold price steadies above $4,100 in Asian trade on Thursday as a softer US dollar balances expectations of further Federal Reserve rate increases and escalating US-Iran tensions boost safe-haven demand.
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Gold is trading near $4,100 during the Asian session on Thursday, pausing the previous day's small pullback from a two-and-a-half-week high.
The precious metal is supported by a weaker US dollar, which is offsetting hawkish Federal Reserve expectations. Additionally, renewed geopolitical risks stemming from the US-Iran conflict are driving safe-haven flows into gold.
Source: FXStreet Forex News