Gold hits fresh highs as Fed holds rates amid tensions
Gold hits fresh highs as Fed holds rates amid tensions
Gold climbs past new highs as geopolitical tensions and a hold on rates boost demand, while oil and tech shares swirl with mixed signals in global markets.
Gold extended its ninth straight day of gains, trading above $5,550 an ounce as geopolitical tensions and expectations of a slower path for rate cuts kept investors wary. The metal rose about 1.5% on Thursday, lifting its rally for the year to roughly 27% and helping silver push toward record territory.
Oil joined the uptick, rising as concerns over Iran intensified. West Texas Intermediate crude rose to its highest level since September after President Donald Trump warned Iran to make a nuclear deal with the U.S. or face military strikes far worse than the attack he ordered last June, adding to a climate of heightened risk and fueling commodity demand.
US equity futures softened in early trade as tech mega-cap earnings came in mixed. Nasdaq-100 futures slipped about 0.3% while S&P 500 futures edged lower. In after-hours trading, Tesla and Meta Platforms gained, while Microsoft showed signs of caution on spending. The broader risk sentiment remained tethered to policy clarity and evolving geopolitical headlines.
Analysts say the next move for gold will depend on any further clarity from the Fed on the rate path, even as demand from investors remains firm amid the broader risk backdrop.
