Gold prices rebound above $4,100 per ounce, but the Fed's hawkish stance suppresses outlook

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BlockBeats News, July 9 — Gold prices rebounded to above $4,100 per ounce after Wednesday's sell-off. The rebound was supported by a weakening US dollar and renewed geopolitical tensions in the Middle East following another round of strikes between the US and Iran on Wednesday. However, rising energy prices could complicate the inflation outlook, reinforcing market expectations that the Fed will keep interest rates high for longer or raise them further.

The Fed's mid-June policy meeting minutes highlighted a hawkish shift within the committee, putting pressure on precious metals. Thomas Ryan, an economist at Capital Economics, said: "The minutes reiterated that the door for a rate hike in September remains very wide open." (Jin Shi)

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