Forex
Middle East Progress Lifts Gold Prices as Oil Holds Steady
Gold prices remained steady on August 3, 2026, as traders watched developments in Middle East talks for signs of progress that could ease pressure on the US Federal Reserve to raise interest rates.
Bullion traded around $4,050 an ounce, after closing the previous session with a 0.2% gain.
The stabilization in gold prices came as oil prices also remained steady, having dipped on Monday.
US and Iran signaled ongoing negotiations to restore shipping through the Strait of Hormuz, which raised hopes for a pickup in supply that would soften energy-driven inflation.