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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

30 July 2026 21:30  |

Gold Continues to Strengthen

Gold prices rose to around US$4,080 per troy ounce during Thursday's trading, extending the approximately 2% gain seen in the previous session. A weakening US dollar served as a key support for the precious metal.

The Federal Reserve maintained interest rates within the 3.50%–3.75% range. Fed Chair Kevin Warsh reiterated a commitment to lowering inflation but stopped short of providing certainty regarding the next rate hike.

Demand for safe-haven assets also rose after the US military struck several Iranian targets. The strikes followed an Iranian missile attack on American forces in Jordan, reigniting concerns over conflict and energy-driven inflation.

Consequently, gold retains the potential to strengthen as long as the dollar remains weak and geopolitical tensions stay high. However, the roughly 60% probability of a Fed rate hike in September could cap gains, as high interest rates diminish the appeal of gold, which does not generate a yield.

Source: Newsmaker.id

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