Gold rebounds above $4,100 as Fed minutes, Hormuz risk keep yields firm

Spot gold and silver are higher into the North American open Thursday as traders partially reversed Wednesday’s selloff. The move is supported by firmer Treasury yields, a steady U.S. dollar, and crude oil while renewed U.S.-Iran escalation increases geopolitical risk premiums. Overall impact is likely moderate, reflecting positioning updates rather than a new macro datapoint.

Analysis

Spot gold and silver are higher into the North American open Thursday as traders partially reversed Wednesday’s selloff. The move is supported by firmer Treasury yields, a steady U.S. dollar, and crude oil while renewed U.S.-Iran escalation increases geopolitical risk premiums. Overall impact is likely moderate, reflecting positioning updates rather than a new macro datapoint.