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.
