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Institution: Gold prices remain stable in light trading during the holiday.
Jin10 data reports on June 20 that gold prices remained stable during the light holiday trading, as the market digests the outcomes of the Federal Reserve meeting and the Middle East conflict. Israel and Iran continue to attack each other, and Trump stated that he will decide on the U.S. response to Iran “within two weeks.” FXStreet’s Tammy Da Costa noted that the safe-haven metal is oscillating within a narrow range amid declining trading volume, but potential risks remain evident. Geopolitical tensions continue to be a key factor driving gold prices to rise, despite the pressure of a stronger dollar following the Federal Reserve’s latest interest rate decision and economic forecasts. Powell’s unexpectedly cautious tone suggests that monetary policy may be tighter than previously expected.