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27.07.202623:56:28UTC+00Gold Steadies as US-Iran Talks Eyed

Gold held steady near $4,100 an ounce on Tuesday, preserving most of the previous session’s gains after President Donald Trump said the US was engaged in “good talks” with Iran aimed at resolving the conflict in the Middle East. The comments pushed oil prices lower, easing concerns about inflation and the prospect of further interest rate hikes.

At the same time, Trump cautioned that the US stood ready to resume strikes against the Islamic Republic if negotiations were to collapse. Washington suspended its attacks on Iran late Friday after nearly two weeks of hostilities, and Tehran likewise halted retaliatory strikes on US bases in neighboring countries.

Investors are now focused on this week’s Federal Reserve policy meeting, where policymakers are widely expected to keep interest rates unchanged. While some market participants still see a chance of a hike amid renewed inflationary pressures, the consensus view is that the next increase is more likely to come in September.

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