Gold Steadies After Six-Day Decline as Fed Warns on Inflation

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Gold:An attendant weighs a one kilogram gold bar at a bullion dealer in Budapest, Hungary.Gold steadied after tumbling nearly 4% in the previous session, as the Federal Reserve warned that the Middle East war and surging energy prices could stoke inflation.Bullion held near $4,835 an ounce in early trading, following its sixth straight daily decline — the longest losing streak since late 2024. The Fed held interest rates steady at its latest meeting on Wednesday and projected one cut this year, but Chair Jerome Powell said a reduction would require progress in slowing inflation. The conflict makes developments for the US economy “uncertain,” Fed officials said in a statement.