Fed Decision Looms Large Over Metals Market

The metals market is bracing for the U.S. Federal Reserve's upcoming monetary policy decision at the end of July, according to Alpari analyst Anna Bodrova.

Investors are weighing the likelihood that the Fed will keep interest rates unchanged in its current meeting while also factoring in a high probability of a rate increase in the autumn.

New exchanges of strikes between the United States and Iran have again affected oil prices, heightening concerns about a possible acceleration in inflation. This has strengthened gold's price at around US$4,020 per ounce, while silver is hovering near US$57 per ounce.