Interest Rate Outlook
The latest FOMC minutes revealed a cautious but firm stance on inflation, leading traders to price in a period of rate stability. This has eased the immediate pressure on non-yielding assets like gold, allowing for a technical recovery toward the $5,000 level.
Geopolitical Support
Continuing naval drills in the Persian Gulf and new US maritime warnings are keeping a 'fear premium' active. Analysts suggest that geopolitical uncertainty remains the primary structural floor for precious metals in Q1 2026.