Gold advanced toward $4,600 an ounce on Thursday, staging a modest rebound from one‑month lows as investors tracked geopolitical developments following reports that the US military would brief President Donald Trump on potential action against Iran. Trump also stated that the US would maintain its naval blockade of Iran until a nuclear agreement is secured, while Tehran accused Washington of seeking to force the country into submission through economic pressure and the fomenting of internal divisions.
The protracted conflict in the Middle East and the near-closure of the Strait of Hormuz continued to unsettle global markets, prompting traders to scale back expectations for interest-rate cuts this year and instead begin pricing in the possibility of a rate hike in 2027. Meanwhile, as widely expected, the US Federal Reserve left its policy settings unchanged, though four officials dissented, underscoring growing divisions over the policy outlook amid heightened uncertainty related to the Iran conflict.
