Gold Holds Steady as Focus Shifts to Fed Policy Over Geopolitica
Gold Holds Steady as Focus Shifts to Fed Policy Over Geopolitical Risk
- Gold prices remained resilient. The US Dollar Index slipped 0.23% to 97.74, while U.S. equities ended mixed as markets braced for Federal Reserve policy signals.
- The Israel-Iran ceasefire has eased geopolitical concerns, typically a bearish signal for gold. However, the metal’s continued strength, outperforming the weaker dollar, points to renewed institutional and retail accumulation. This highlights a key shift: investors are now prioritising monetary policy outlooks over crisis-driven moves.
- All eyes are on Fed Chair Jerome Powell’s congressional testimony, with particular focus on his comments regarding tariffs and interest rates. The CME’s FedWatch tool now shows a 24.8% probability of a July rate cut. Powell’s cautious tone—balancing inflation risks from potential tariffs against economic softness—has added uncertainty to the rate path, especially amid political pressure from the Trump administration.
- Gold’s recent price action suggests it’s evolving from a pure safe-haven asset into a hedge against broader monetary and economic instability. With geopolitical tensions easing, traders are now closely watching the Fed’s next steps and the dollar’s direction as key drivers of gold’s trajectory.
- Gold prices remained resilient. The US Dollar Index slipped 0.23% to 97.74, while U.S. equities ended mixed as markets braced for Federal Reserve policy signals.
- The Israel-Iran ceasefire has eased geopolitical concerns, typically a bearish signal for gold. However, the metal’s continued strength, outperforming the weaker dollar, points to renewed institutional and retail accumulation. This highlights a key shift: investors are now prioritising monetary policy outlooks over crisis-driven moves.
- All eyes are on Fed Chair Jerome Powell’s congressional testimony, with particular focus on his comments regarding tariffs and interest rates. The CME’s FedWatch tool now shows a 24.8% probability of a July rate cut. Powell’s cautious tone—balancing inflation risks from potential tariffs against economic softness—has added uncertainty to the rate path, especially amid political pressure from the Trump administration.
- Gold’s recent price action suggests it’s evolving from a pure safe-haven asset into a hedge against broader monetary and economic instability. With geopolitical tensions easing, traders are now closely watching the Fed’s next steps and the dollar’s direction as key drivers of gold’s trajectory.
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