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Forex

Gold Prices Steady Amid Middle East Tensions and Dollar Decline

Guavy AI Editorial Team
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USD
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Gold prices steadied near $4,400 an ounce on September 7, 2026, as traders weighed the impact of Middle East tensions and the decline of the US dollar against the yen.

The precious metal was relatively unchanged in early trading, having given up 1.5% over the last two sessions.

Renewed clashes between the US and Iran in the Strait of Hormuz have raised oil prices and heightened inflationary concerns.

As a result, traders are pricing in a roughly 60% likelihood that the Federal Reserve will hike interest rates next week.

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