Gold Steady as Hawkish Fed Bets Counter Geopolitical Truce

Gold (XAU/USD) is trading in a narrow range during the Asian session, failing to extend the previous day's late recovery from the $4,267-$4,268 area—the lowest level since March 23. The metal is supported by a softer US dollar, but gains are capped by growing bets on a hawkish Federal Reserve policy stance.

Additionally, reports of a truce between Israel and Iran have reduced safe-haven demand, further limiting upside for gold. The market remains focused on the interplay between geopolitical developments and monetary policy expectations.