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Gold Holds Gains as Markets Mull Rate Pause, Middle East Crisis
Gold held gains as conflict in the Middle East continued to roil markets, while investors considered whether tightening financial conditions may have reached a peak following dovish commentary from Federal Reserve officials. The precious metal steadied after jumping 1.6% on Monday, the most since May, as haven demand surged on the back of Hamas’s shock attack on Israel at the weekend. Comex gold implied volatility picked up on Monday while December futures rose the most since August, stoked by the geopolitical tensions. Bullion is also benefiting from a shift in mindset over the rate outlook. US policymakers are ... (full story)