Gold Steadies After Fed Decision

2026-07-29 23:56 By Jam Kaimo Samonte 1 min. read

Gold steadied around $4,050 an ounce on Thursday after rising in the previous session, as the Federal Reserve left interest rates unchanged despite mounting inflationary pressures stemming from renewed conflict in the Middle East.

The decision offered some support to bullion, as higher interest rates tend to weigh on demand for non-yielding assets.

Still, three FOMC members dissented in favor of a rate hike, while Chairman Kevin Warsh said that if inflation remains elevated throughout the forecast period, higher interest rates could become an appropriate policy response.

Elsewhere, both the BOE and the BOJ are widely expected to keep interest rates unchanged this week while maintaining a cautious approach to inflation.

In the Middle East, President Donald Trump pledged a strong response after an attack on US forces in Jordan.

Meanwhile, the two sides continued to struggle to reach a potential agreement as Tehran insisted on retaining control of the Strait of Hormuz.



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Gold Steadies After Fed Decision
Gold steadied around $4,050 an ounce on Thursday after rising in the previous session, as the Federal Reserve left interest rates unchanged despite mounting inflationary pressures stemming from renewed conflict in the Middle East. The decision offered some support to bullion, as higher interest rates tend to weigh on demand for non-yielding assets. Still, three FOMC members dissented in favor of a rate hike, while Chairman Kevin Warsh said that if inflation remains elevated throughout the forecast period, higher interest rates could become an appropriate policy response. Elsewhere, both the BOE and the BOJ are widely expected to keep interest rates unchanged this week while maintaining a cautious approach to inflation. In the Middle East, President Donald Trump pledged a strong response after an attack on US forces in Jordan. Meanwhile, the two sides continued to struggle to reach a potential agreement as Tehran insisted on retaining control of the Strait of Hormuz.
2026-07-29
Gold Extends Rebound from 9-Month Low
Gold prices rebounded to the $4,100 per ounce mark on Wednesday from the nine-month low of $3,975 from the middle of July after the Federal Reserve maintained its interest rates steady. The decision was consistent with what only a portion of the market was positioned for, with three members of the FOMC dissenting to a rate hike. The hold brought some relief to bullion investors, as higher interest rates reduce demand for assets that bear no yield. In the meantime, demand for safe-haven assets was supported by a new wave of strikes in the Middle East. Iran attacked US forces across the Persian Gulf and energy infrastructure in Saudi Arabia. Elsewhere, the Bank of England and the Bank of Japan are also expected to keep rates unchanged this week while maintaining a cautious stance on inflation.
2026-07-29
Gold Steady Ahead of Fed Decision
Gold traded around $4,020 an ounce on Wednesday, little changed from the previous session and hovering near its lowest level since November 2025, as investors awaited the Federal Reserve's policy decision. While the Fed is widely expected to leave interest rates unchanged, markets are pricing in roughly a 40% chance of a 25-basis-point hike today and an 80% probability of an increase in September. Elsewhere, the Bank of England and the Bank of Japan are also expected to keep rates unchanged this week while maintaining a cautious stance on inflation. Meanwhile, Commerzbank lowered its year-end gold price forecast to $4,500 per ounce and expects silver to reach $67 per ounce. On the geopolitical front, Tehran reportedly rejected Oman's proposal for joint regional management of the Strait of Hormuz, dampening hopes for easing tensions. Oil prices also rose following joint US-Saudi strikes in Iraq.
2026-07-29