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Gold Steady as Middle East Talks Weigh on Interest Rate Outlook

Bloomberg Markets Monday 03 August 2026, 23:25 UTC By Wendy Wells 1 min read
Key Points

Gold Steady as Middle East Talks Weigh on Interest Rate Outlook Gold moved in a narrow range as traders monitored talks in the Middle East for signs of progress that would ease pressure on the US Federal Reserve to raise interest rates. Bullion traded around $4,050 an ounce, after ending the previous session 0.2% higher. The US and Iran both signaled that negotiations to restore shipping through the Strait of Hormuz were ongoing, raising hopes for a pickup in supply that would soften...

Gold Steady as Middle East Talks Weigh on Interest Rate Outlook Gold moved in a narrow range as traders monitored talks in the Middle East for signs of progress that would ease pressure on the US Federal Reserve to raise interest rates. Bullion traded around $4,050 an ounce, after ending the previous session 0.2% higher. The US and Iran both signaled that negotiations to restore shipping through the Strait of Hormuz were ongoing, raising hopes for a pickup in supply that would soften energy-driven inflation. Oil prices were also steady after sliding on Monday.
the Middle East (LOCATION) the US Federal Reserve (ORG) US (LOCATION) Iran (LOCATION) the Strait of Hormuz (LOCATION)
Originally published by Bloomberg Markets Read original →

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