20-May-2026      14:59

Gold weakens under $4,500 amid Fed rate hike speculation

Gold prices remained under pressure on Wednesday, trading below the $4,500 per ounce mark as a stronger US dollar and rising Treasury yields weighed on investor sentiment. Meanwhile, silver outperformed, rebounding nearly 1% to hover around $75 an ounce amid bargain buying after recent sharp declines. Markets stayed focused on escalating tensions between the US and Iran after President Donald Trump warned that military strikes could resume within days if peace negotiations fail. The continued closure of the Strait of Hormuz has kept oil prices elevated, intensifying global inflation concerns and reducing expectations for Federal Reserve rate cuts this year. The firmer dollar, trading at six-week highs, further limited upside momentum in bullion, while MCX June gold futures edged lower to around Rs 1,58,825 per 10 grams.

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