Gold rose in Asian morning trade after the Federal Reserve left rates unchanged overnight. DBS Group strategist Sherilyn Chew said recent gains have been event-driven — notably US‑Iran de‑escalation — and have only partly offset Fed signals of possible hikes later this year, leaving prices in a narrow trading range. Chew expects central bank bullion buying to remain strong and a survey showing planned reserve increases over the next year should provide medium‑term support. DBS sees gold trading

Gold rose in Asian morning trade after the Federal Reserve left rates unchanged overnight. DBS Group strategist Sherilyn Chew said recent gains have been event-driven — notably US‑Iran de‑escalation — and have only partly offset Fed signals of possible hikes later this year, leaving prices in a narrow trading range. Chew expects central bank bullion buying to remain strong and a survey showing planned reserve increases over the next year should provide medium‑term support. DBS sees gold trading range‑bound near term; further declines in bond yields would likely push prices higher.