Gold outlook stays range-bound as traders weigh Fed and oil risks

Gold is drawing support from expectations that the Federal Reserve will keep interest rates steady through the rest of the year after softer inflation and employment data. Asset managers have increased long positions, while short-term Treasury yields have stabilized and the dollar has weakened.

TD Securities strategists said volatility in energy prices could limit gold’s gains. A sharp oil-price increase could revive inflation concerns, prompt traders to price in higher interest rates and keep gold within a projected $4,200-to-$4,500-an-ounce range into early 2027.

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