Gold Rallies Toward $4,100 as US-Iran Pause Eases Oil, Inflation Fears
Gold prices approached $4,100 per ounce after the U.S. and Iran halted military action, reducing concerns over oil supply disruptions and inflation. Markets now turn to the Federal Reserve’s policy decision this week.
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Gold advanced toward $4,100 an ounce as the United States and Iran stepped back from military confrontation. The de-escalation eased fears of significant oil supply disruptions, which in turn lowered inflation expectations and took some heat out of the rate-hike outlook.
Investors are now focusing on the Federal Reserve’s upcoming policy decision. With oil prices falling, the central bank faces less immediate pressure to tighten monetary policy, despite recent geopolitical tensions.
Source: First Squawk