Gold Hovers Around $4,500 Amid Dollar Strength and Rate Cut Delays
As the week gets to the mid-point, spot gold has been trading in a tight range around $4,500 an ounce as a firmer dollar, elevated yields on Treasuries and a hawkish Fed exert a drag on prices of the precious metal. The current war happening between the U.S. and Israel on the one hand and Iran on the other would have continued to lift gold prices since the precious metal thrives during turmoil. However, the brakes have been pumped on this expected surge by the USD which has strengthened during this time of the military conflict in the Middle East.…
