Gold Rises Ahead of Fed Decision Under New Chair Walsh on June 17

According to Jin10, gold prices rose slightly on Wednesday, June 17, as investors awaited the U.S. Federal Reserve's first policy decision under new Chair Kevin Walsh, while also monitoring details of a potential U.S.-Iran peace agreement.

Tai Wong, an independent metals trader, noted that gold buyers may be betting Walsh will signal a more dovish stance later, allowing prices to climb despite weak equity markets and rising yields and U.S. dollar strength. FXTM senior analyst Lukman Otunuga said gold may push higher toward $4,350 if the $4,300 support level holds, but could fall back to the $4,250-$4,200 range if that level breaks.