Gold: Middle East Tensions Rise, Focus Turns to Fed's Interest Rate Meeting This Week

3 day ago / Read about 0 minute

Author：小编

Last week, COMEX gold prices surged by 3.65%, while the benchmark Shanghai gold contract climbed 1.42%. Heightened tensions in the Middle East, including the attack on a US military base in Iraq and President Trump's warning to Iran against retaliating against the US, have fueled precious metal prices. Concurrently, the Federal Reserve's anticipated interest rate decision in June stands at a 96.9% probability of remaining unchanged, with a potential rate cut in July also on the horizon, exerting a noticeable influence on gold prices. In the near term, funds are flocking to precious metals, and the market is closely monitoring the progression of geopolitical conflicts and the resistance levels of gold prices.

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