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fxJun 16, 2026, 7:19 PM

Gold Rises as Oil Rout Softens Fed Hike Bets

Gold (XAU/USD) climbed over 0.81% on Tuesday, driven by a US-Iran deal that eased inflation fears and reduced expectations for Fed rate hikes in 2026.

XAUUSD

Gold (XAU/USD) gained more than 0.81% on Tuesday, reversing from daily lows to trade at $4,344. The move was fueled by a US-Iran agreement that lowered oil prices and eased inflationary pressures.

Traders responded by scaling back bets that the Federal Reserve will raise interest rates later in 2026, providing a tailwind for the non-yielding precious metal.

The metal bounced off its intraday low and maintained gains through the session, reflecting shifting rate expectations amid the oil rout.

Source: FXStreet Forex News