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Gold holds near 11-week low as Middle East tensions offset hawkish Federal Reserve rate outlook
Gold steadied near an 11-week low as the market balanced renewed Middle East hostilities against a hawkish Federal Reserve outlook. XAU/USD was flat around $4,320 after an intraday dip to $4,268, a level last seen on 23 March. Weekend exchanges of fire between Iran and Israel undermined near-term peace expectations, while official statements on a ceasefire and on the continuation of a US naval blockade of Iranian ports kept uncertainty elevated. The US Dollar Index (DXY) eased from 100.21 to about 99.97, offering limited support to Dollar-priced gold, yet higher-for-longer rate expectations continued to weigh on the ... (full story)
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- Jun 8, 6:30pm | 5 hr ago Posted byFundamental Analysis81
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