The ceasefire between the US and Iran boosts gold's rebound, as the market awaits the Federal Reserve's direction

According to Jinshi reports, analysts at ING pointed out that gold prices rose on Monday due to a sharp drop in oil prices, which eased inflation concerns and put pressure on the dollar and U.S. Treasury yields. This round of movement closely follows the pause in hostilities between the U.S. and Iran, with lower oil prices improving the outlook for non-yielding assets.

The market is focused on the Federal Reserve and the upcoming U.S. inflation data to seek further guidance on interest rate prospects. If yields remain suppressed, gold prices should continue to find support around current levels.