Gold Holds Above $4,020 as Fed Rate Risks Cap Rebound

Spot gold traded near $4,055 an ounce, up 0.16%, while silver reached $58.31, gaining 1.35%. Markets assessed strong U.S. labor data with claims at a 55-year low of 187,000, the ECB’s rate hold, and Middle East geopolitical tensions.

U.S. 10-year yields held near 4.70% and the dollar index near 101.39, capping gains despite elevated oil prices: Brent at $97.67 and WTI near $89.76 amid Strait of Hormuz and Red Sea shipping strains.

Traders await Fed signals before the July 29 decision. Technically, gold faces resistance at $4,067 with support at $4,030, while silver targets a break above $58.56.