Gold Holds Steady Below $3,400 Amid US-Iran Tensions and Fed Caution

Gold Holds Steady Below $3,400 Amid US-Iran Tensions and Fed Caution

Published: June 19, 2025 | 🖊️ Tredu Commodities Desk

Gold Trades in Tight Range on Subdued Volume

Gold (XAU/USD) traded sideways on Thursday, oscillating between $3,340 and $3,400, maintaining near-term support and resistance levels seen over the past week. The price action is occurring amid muted volume due to the US Juneteenth holiday, which has limited trading activity.

Safe-Haven Demand Balances Fed Rate Caution

Investors remain cautious, balancing safe-haven inflows driven by rising US-Iran geopolitical tensions with concerns about the Federal Reserve’s data-dependent stance on interest rates. The Fed’s latest policy statement underscored a steady approach, dampening volatility in gold.

Geopolitical and Macro Risks in Focus

The ongoing conflict between the US and Iran, combined with persistent oil supply risks, continues to influence gold prices. Gold remains a favored asset amid uncertainty, though trading volumes remain subdued until normal US market activity resumes.

Explore More on Tredu:

• Gold Price Analysis & Forecast
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• Federal Reserve Monetary Policy Updates