Gold steady near $3400, Fed outlook and Iran tensions in focus

Gold futures stayed flat near $3404 per ounce on Wednesday, weighed down by a stronger dollar even as Iran-Israel tensions continued for a sixth day. Israel confirmed fresh strikes near Tehran and detected missile launches from Iran, keeping geopolitical risks high. Domestically, MCX August bullion futures were steady around ₹99483 per 10 grams. Investors now await the Federal Reserve?s policy decision, with rates likely unchanged but markets watching for clues on future moves amid tariff and conflict worries. Meanwhile, the World Gold Council?s annual central bank survey, done from February to May, showed robust optimism: 95% of central banks expect global gold reserves to rise in the next year, and a record 43% see their own holdings increasing, reinforcing gold?s status as a strategic asset in uncertain times.

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