Gold Price Forecast: Will $4,300 Support Hold Amid Fed Rate Hike Fears?
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Key Points:
- Gold remains under pressure below $4,500 as Fed rate hike expectations rise.
- The $4,300 support will determine the next short-term move.
- The long-term outlook remains bullish while gold holds above $4,000.
Gold (XAU) is trading near $4,370 after a sharp reversal from the August high near $4,697. The metal now faces two opposing forces. Renewed U.S.-Iran tensions support the safe-haven demand. But the higher energy prices have also increased inflation fears and Fed rate hike expectations. The short term outlook remains cautious below $4,500 while the broader bullish structure can survive if buyers defend the key support levels. This article examines the geopolitical risks, Fed outlook and key technical levels that may determine the next move in gold.