Gold prices rise from 1-mth low as markets weight Fed outlook, Iran fears
Gold prices rebounded from a one-month low during Asian trading on Thursday, supported by safe-haven demand amid escalating U.S.-Iran tensions and a hawkish Federal Reserve outlook. Despite the rise, gold remained under pressure from a stronger dollar and reduced expectations for future rate cuts, which increase the opportunity cost of holding non-yielding assets. Other precious metals including silver and platinum also saw gains as markets reacted to global central bank policies and rising energy-driven inflation concerns.
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Investing.com-- Gold prices rose from a one-month low in Asian trade on Thursday, but remained under pressure from rising concerns over the U.S.-Iran war and a potentially hawkish outlook for the Federal Reserve. Bullion was nursing losses in April as safe haven appetite for gold was largely overshadowed by strength in the dollar and concerns over the inflationary effects of the Iran war. Spot gold rose 0.5% to $4,564.12 an ounce, while gold futures rose 0.3% to $4,575.66/oz by 02:12 ET (06:12 GMT). Other precious metals also rebounded from recent losses. Spot silver rose 1.2% to $72.2485/oz, while spot platinum rose 2% to $1,918/oz.
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