Gold recovers but gains may be limited ahead of Fed policy
Gold prices recovered as US-Iran tensions eased, but gains may be limited ahead of the US Federal Reserve's policy meeting, says Manav Modi of Motilal Oswal Financial Services Ltd.
A weaker US dollar and a temporary pause in hostilities between the United States and Iran supported gold, with crude oil dropping over 5% on de-escalation.
The US imposed new tariffs of 10%–12.5% on imports from several trading partners, adding to investor caution.
The Federal Reserve, led by Chair Kevin Warsh, is expected to keep interest rates unchanged; markets await policy statement and inflation outlook.
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