Global financial markets came under pressure on Tuesday as investors reassessed expectations for U.S. Federal Reserve monetary policy. Asian stocks and oil prices declined after the United States waived certain sanctions on Iran, while rising expectations that the Fed may take more aggressive action to fight inflation continued to weigh on market sentiment.
At the time of writing, spot gold was trading near USD 4,190.60 per ounce, up 1.21%. Meanwhile, spot silver was trading around USD 65.21 per ounce, up 0.47% on the session.
The U.S. dollar traded steadily at the start of the week after the first round of talks between the United States and Iran ended. Although both sides showed some positive signals toward a roadmap for a final agreement within 60 days, investor sentiment remained cautious.
At the time of writing, spot gold was trading around $4,154.70 per ounce, down 1.28%, while spot silver fell 1.33% to around $64.71 per ounce.
As of 06:45 GMT, Brent crude rose 51 cents, or 0.64%, to USD 80.36 per barrel. U.S. West Texas Intermediate crude gained USD 1.28, or 1.7%, to USD 77.88 per barrel. However, both benchmarks were still headed for a weekly loss of around 8%.
At the time of writing, spot gold was down 0.5% at USD 4,189.26 per ounce. U.S. gold futures for August delivery fell 0.9% to USD 4,207.80 per ounce.
Market Overview Spot gold and silver prices fell sharply after Wednesday’s trading session, as the U.S. Federal Reserve kept interest rates unchanged but signaled that elevated inflation could force the central bank to m
Although markets largely do not expect the Fed to change interest rates at this meeting, investors are paying close attention to the policy statement, economic projections, dot plot, and the post-meeting press conference. These will be key factors in helping markets assess the Fed’s communication style and policy direction under its new leadership.
Gold prices are still holding on to solid gains after testing the key support zone around USD 4,000 per ounce. However, according to some market strategists, the precious metal remains trapped in a broad consolidation phase as investors wait for clearer signals on interest rates and inflation.
At the time of writing, spot gold was up 0.2% at $4,315.87 per ounce, after rising as much as 3.6% on Monday and reaching its highest level since June 5. Meanwhile, U.S. gold futures for August delivery fell 0.3% to $4,337.10 per ounce.