Spot Gold Stabilizes Near $4,100 an Ounce as Fed Path, Middle East Risks Roil Market

International gold prices swung sharply this week and began to stabilize after three straight days of declines, with London spot gold hovering around $4,100 per ounce as of July 10, 36Kr reported. The report said markets are increasingly split over the U.S. Federal Reserve's future rate-hike path, while renewed uncertainty in the Middle East has intensified two-way trading in gold. Industry sources cited by the report said near-term price moves are likely to be driven by Fed policy expectations and Middle East developments, while longer-term support could come from continued gold buying by global central banks and rising global economic uncertainty.