Gold and Silver Prices Hold Steady as Fed Rate Hike Expectations Loom

Gold and silver prices held steady on Friday as investors remained cautious ahead of potential further rate hikes from the Federal Reserve. Spot gold traded at around $4,300 per ounce, a gain of 0.62%, while spot silver rose to near $64.76, up 1.62%. The Fed's decision to raise interest rates in September has led to expectations of additional tightening, which could weigh on bullion prices.

The U.S.-Iran ceasefire hopes also lifted crude oil prices, with Brent trading at around $105.26 per barrel and WTI near $92.78. However, the cheaper crude dampened inflation pressure, a marginal positive for gold. The dollar index remained strong, sitting close to 101.2.

The technical levels for spot gold indicate that bulls are eyeing a reclaim of the $4,304 to $4,345 resistance band, while bears' next near-term downside goal is a break under $4,245.