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Gold price rebounds above $4,100 per ounce, but Fed's hawkish stance weighs on prospects

MarsBitNews
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Mars Finance News, July 9 — Gold prices rebounded above $4,100/oz following a sell-off on Wednesday. The rally was supported by a weakening U.S. dollar and renewed geopolitical tensions in the Middle East after the U.S. and Iran struck each other again on Wednesday. However, rising energy prices could complicate the inflation outlook, reinforcing market expectations that the Federal Reserve will keep interest rates higher 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 reiterate that the door to a September rate hike remains wide open." (Jin Shi)
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