#Gold Gold reclaims $4,000 as Oil eases, Fed decision tests recovery
Gold gains 0.6% to $4,020 after rebounding from $3,978.
Lower Oil prices and Treasury yields provide relief for Bullion.
December Fed hike odds reach 83% ahead of Warsh's remarks.
Gold price recovers, rises 0.6% after finishing last week below the $4,000 figure as speculation of a de-escalation in the US-Iran conflict pushed energy prices lower ahead of this week’s Federal Reserve (Fed) monetary policy meeting. The XAU/USD trades at $4,020 after bouncing off daily lows of $3,978.
XAU/USD rebounds as easing Treasury yields and Middle East diplomacy support Bullion
Geopolitics continued to drive price action, particularly Oil prices, which have shown a mild positive correlation with the Greenback. Iran, Turkey, Pakistan and Saudi Arabia – the Mecca Pact members – agreed to continue talks. Meanwhile, speculation of a US-Israel coordinated attack on Tehran looms as Iranian officials excluded nuclear talks from the Mecca Pact reunion.