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#BlackRockReducesBTCIncreasesETH
Gold's Expectations for Interest Rate Hikes by The Fed
Gold Focus:
Escalation of US–Iran conflict and its impact on the global energy market
Anticipation of US inflation data (CPI & PPI) and The Fed's interest rate policy outlook
Wednesday, June 10, 2026 – Gold prices opened weaker at US$4,256 per troy ounce after the United States launched an attack on targets in Iran in response to the incident of a US military helicopter crash in the Strait of Hormuz area. Iranian media reported at least six explosions on Qeshm Island, which again heightened market concerns about stability in the Middle East region. The latest escalation adds uncertainty to the fragile ceasefire and increases the risk of disruptions to global energy distribution through the Strait of Hormuz.
Geopolitical tensions pushed global oil prices higher again, while the US dollar maintained its strength amid rising demand for safe assets. The increase in energy prices raised concerns that global inflationary pressures could persist longer, thereby strengthening expectations that the Federal Reserve will maintain tight monetary policy for a longer period. This condition is a negative sentiment for gold because precious metals do not provide yields. According to CME FedWatch Tool, market participants now estimate about a 68%-70% chance that The Fed will raise interest rates before the end of 2026, up from previous weeks' expectations.
On the economic side, investor attention is now focused on the release of the US Consumer Price Index (CPI) for May, scheduled for today, followed by the Producer Price Index (PPI) on Thursday. Both data will be key indicators in assessing inflation trends and the outlook for US interest rates. Higher-than-expected inflation results could strengthen the US dollar and US Treasury yields, adding pressure on gold prices.
Technically, the nearest support level for gold prices is around $4,209 to $4,159, while the nearest resistance is at $4,336 to $4,413. If selling pressure increases, deeper support is seen at $4,032, while medium-term resistance is in the $4,540 area.