Asian Stocks Steady as AI Shares Rebound Ahead of Fed Decision 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
Oil Prices Surge as Houthi Attacks Deepen Hormuz Supply Fears 
Oil Prices Surge as Houthi Attacks Raise Saudi Supply Fears 
Finland Raises 2026 Growth Forecast as Exports and Investment Surge 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
China Home Prices Fall Again as Property Slump Drags on Growth 
UK Economy Grows 0.4% in July, Beating Forecasts 
Saudi Oil Exports Face 4% Global Supply Threat as Pipeline Remains Shut 
Norway Core Inflation Rises to 3% in August 
Oil Prices Surge as Middle East Shipping Attacks Threaten Supply 
Dollar Rises as Fed Hike Bets Weigh on Asian Currencies 
Asian Currencies Subdued as Yen Weakens Ahead of Fed, BOJ Decisions 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
EUR/USD Eyes 1.17 as Fed Decision Could Weigh on Dollar 
Gulf Ministers to Meet Iran in Oman Over Hormuz Shipping Deal 
Add as a preferred source on Google
Gold prices were largely steady on Tuesday after sliding more than 1% in the previous session, as escalating Middle East oil supply disruptions increased expectations that the Federal Reserve will raise interest rates this week.
Spot gold (XAU/USD) gained 0.2% to $4,306.86 an ounce at 22:06 ET (02:06 GMT), while gold futures edged lower to $4,346.65. Silver rose 0.3% to $63.42 an ounce, platinum held near $1,764.36, and the U.S. Dollar Index strengthened to 99.60.
Bullion remains under pressure from rising oil prices, Treasury yields and a stronger dollar. Gold fell more than 1% on Monday, reaching a five-week low as traders assessed how higher energy costs could affect inflation and Federal Reserve monetary policy.
Markets are pricing roughly a 92% probability of a Fed rate hike this week. Higher interest rates typically weigh on gold because the precious metal offers no yield, making interest-bearing assets relatively more attractive.
Inflation concerns intensified after Saudi Arabia shut its East-West oil pipeline following attacks last week. The route had been helping move crude around disruptions in the Strait of Hormuz, and its closure threatens millions of barrels per day at a time when global oil supplies are already strained. Saudi authorities have not indicated when the pipeline could restart.
Treasury yields have also climbed sharply. The benchmark 10-year U.S. Treasury yield briefly reached 5% on Monday for the first time in nearly three years amid concerns about inflation and increased government and corporate borrowing.
Gold has now lost more than 3% in September after trading above $4,600 an ounce in late August.
Despite near-term weakness, longer-term demand remains supportive. OCBC raised its precious metals forecasts, citing stronger investment participation and structural demand. The bank now expects gold to reach $4,600 an ounce by December 2026 and projects silver at $69.70.
With gold remaining above the roughly $4,000 support area established during an earlier correction, investors continue to view the precious metal as a portfolio hedge despite pressure from higher rates and a stronger U.S. dollar.
