Gold recovered some ground after sliding nearly 4% on Wednesday, with dip-buyers helping the metal to withstand spiking oil prices and inflationary risks from the war in the Middle East. Bullion rose as much as 0.7%, reversing some losses sustained over six straight days of decline — the longest losing streak since late 2024. The Federal Reserve held interest rates steady at its latest meeting and projected just one cut this year, with Chair Jerome Powell saying a reduction would require progress in slowing inflation. The conflict makes developments for the US economy “uncertain,” Fed officials said in a statement. ... (full story)