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fxJul 9, 2026, 3:32 AM

Gold Struggles to Find Buyers Amid Hormuz Risks and Fed Rate Hike Bets

Gold (XAU/USD) fails to extend its bounce from a one-week low, trading in a narrow range as geopolitical tensions and expectations of further Fed rate hikes offset a softer US dollar.

XAUUSD

Gold (XAU/USD) is struggling to attract buyers during Asian trading on [date not specified], unable to build on the previous day's recovery from the $4,020 area—a one-week low. The precious metal is oscillating in a tight range.

Traders are weighing conflicting forces. On one hand, a softer US dollar provides some support. On the other, renewed geopolitical risks linked to the Strait of Hormuz and persistent bets on further Federal Reserve rate hikes are capping upside momentum.

No clear catalyst has emerged to break gold out of its current consolidation, leaving the session choppy and directionless.

Source: FXStreet Forex News