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Gold Holds Steady as Progress on Hormuz Trims Rate-Hike Bets

Bloomberg Markets Tuesday 04 August 2026, 23:54 UTC By Wendy Wells 1 min read
Key Points

Gold Holds Steady as Progress on Hormuz Trims Rate-Hike Bets Gold traded in a narrow range, as the prospect of an interim deal to reopen the Strait of Hormuz eased inflation concerns and reduced the odds of the US Federal Reserve raising interest rates. Bullion edged lower to near $4,070 an ounce, after adding 0.6% in the previous session. Qatar said a proposal had been drafted to help normalize commercial shipping via Hormuz, and both US and Iranian officials signaled progress in talks to...

Gold Holds Steady as Progress on Hormuz Trims Rate-Hike Bets Gold traded in a narrow range, as the prospect of an interim deal to reopen the Strait of Hormuz eased inflation concerns and reduced the odds of the US Federal Reserve raising interest rates. Bullion edged lower to near $4,070 an ounce, after adding 0.6% in the previous session. Qatar said a proposal had been drafted to help normalize commercial shipping via Hormuz, and both US and Iranian officials signaled progress in talks to reopen the key waterway for energy flows. Oil fell for a third day on optimism that a deal can be reached.
Gold Holds Steady as Progress on Hormuz Trims Rate-Hike Bets Gold Holds (ORG) the Strait of Hormuz (LOCATION) the US Federal Reserve (ORG) Qatar (LOCATION) Hormuz (LOCATION) US (LOCATION) Iranian (ORG)
Originally published by Bloomberg Markets Read original →

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