Gold Prices Surge Amid Fed Speculations

Gold prices rebounded on Wednesday in anticipation of the Federal Reserve's meeting minutes and interest rate insights. Spot gold rose 1.1%, while U.S. gold futures gained 0.9%. Analysts expect interest rate cuts could benefit non-yielding bullion. Geopolitical developments involve the U.S., Iran, Ukraine, and Russia.

Gold prices experienced a rebound on Wednesday after hitting a one-week low in the previous session. Investors are eagerly awaiting the Federal Reserve's January meeting minutes to gain insights into potential rate cuts, which could impact the market significantly.

Spot gold increased by 1.1% to $4,929.69 per ounce, and U.S. gold futures for April delivery rose by 0.9% to $4,949.20. Analysts suggest that gold's performance is typically strong in low-interest-rate environments, with trends influencing the year's outlook.

Aside from monetary policy, geopolitical agreements involving Iran, Ukraine, and Russia could influence market sentiment. Such developments, alongside ongoing Fed decisions, are pivotal in shaping future economic directions.

(With inputs from agencies.)