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Gold Hovers Near $4,550/oz on Thursday as Middle East Tensions Fuel Energy Costs

GateNews
Metals

On Thursday, gold prices hovered around $4,550 per ounce, near one-month lows, as surging energy costs intensified inflation concerns. Disruptions to global markets caused by prolonged Middle East conflict and the near-closure of the Strait of Hormuz prompted traders to reduce expectations for interest rate cuts this year and begin pricing in potential rate hikes for 2027. The Federal Reserve maintained its policy stance, consistent with market expectations, though four officials dissented. Fed officials cited widening uncertainty from the Iran conflict as a source of growing policy divergence.

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