![](\"https:\/\/www.financialmirror.com\/wp-content\/uploads\/2024\/03\/oanda-gold-xau-usd.jpg\")
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Gold has recovered its recent losses, trading around $2,370 per troy ounce during Thursday\u2019s Asian session. The safe-haven yellow metal gained ground as traders exercise caution amidst heightened geopolitical tensions in the Middle East.<\/p>\n
Reuters reported that Jordan\u2019s Foreign Minister Ayman Safadi said on Wednesday that Israeli retaliation against Iranian strikes could pose a significant risk of dragging the entire region into a devastating war.<\/p>\n
Furthermore, Israel\u2019s Air Force announced on Wednesday that its fighter jets had targeted Hezbollah infrastructure north of Baalbek in eastern Lebanon. Concerns are rising that increased exchanges of fire between Israel and Hezbollah could lead to further escalation.<\/p>\n
Prime Minister Benjamin Netanyahu asserted that Israel would make its own decisions regarding how to defend itself, as western countries urged restraint in responding to a series of attacks from Iran.<\/p>\n
Meanwhile, the US Dollar Index (DXY) is losing ground, primarily influenced by subdued US Treasury yields. This correction in the dollar is to make Gold less expensive to buy for investors using other currencies.<\/p>\n
Federal Reserve Bank of Cleveland President Loretta Mester, speaking on Wednesday, acknowledged that inflation has surpassed expectations. She stated that the Fed requires further assurance before confirming the sustainability of 2% inflation.<\/p>\n
Additionally, Fed Chair Jerome Powell commented on Tuesday that recent data indicates limited progress in inflation this year, suggesting an extended period before reaching the 2% target.<\/p>\n
This statement potentially signals a hawkish stance on upcoming monetary decisions from the Fed. Higher interest rates could diminish the demand for non-yielding assets like Gold.<\/p>\n
(Source: OANDA)<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold is trading around ,370 per troy ounce due to caution amidst geopolitical tensions in the Middle East. The US Dollar Index is losing ground, making Gold less expensive for investors using other currencies. Federal Reserve officials have acknowledged that inflation has surpassed expectations. Fed Chair Jerome Powell’s recent comments suggest a potentially hawkish stance on upcoming monetary decisions.<\/p>\n","protected":false},"author":4,"featured_media":8707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3258,1234,1902,4538,2402,2577,6348,2369,5193,4893,260,2620,2621,6331,3355,4818,52,6323,118,1392,4171,308,3873,53,504,67,6403,899,1401,3404,146,6433,299,68,2981,3669,412,54,34,69,493,55,4843,1792,3840,6349,4054,1827,3269,3897,468,973,380,1124,5126,293,3435,18,1303],"class_list":["post-8706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-air","tag-attacks","tag-bank","tag-benjamin-netanyahu","tag-caution","tag-concerns","tag-currencies","tag-data","tag-decisions","tag-demand","tag-dollar","tag-dollar-index","tag-dxy","tag-escalation","tag-exercise","tag-expectations","tag-federal-reserve","tag-fighter-jets","tag-fire","tag-foreign-minister","tag-gaza-war","tag-geopolitical","tag-geopolitical-tensions","tag-gold","tag-hezbollah","tag-inflation","tag-infrastructure","tag-interest","tag-interest-rates","tag-investors","tag-iran","tag-iranian-strikes","tag-israel","tag-israel-hamas","tag-jerome-powell","tag-jordan","tag-lebanon","tag-marketpulse","tag-markets","tag-middle-east","tag-netanyahu","tag-oanda","tag-president","tag-prime-minister","tag-progress","tag-retaliation","tag-risk","tag-statement","tag-strikes","tag-sustainability","tag-tensions","tag-treasury","tag-us","tag-us-dollar","tag-us-dollar-index","tag-war","tag-western-countries","tag-world","tag-xauusd"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n