Gold Prices Steady Amid Iran War Fears and Divided Market Bets on June Rate Cut

Gold prices continue to consolidate below the $5,000 mark as market sentiment balances geopolitical escalations against a complex monetary policy outlook. The specific threat of a potential war involving Iran has heightened safe-haven demand, providing a firm floor for the precious metal despite a stronger US Dollar. Meanwhile, hawkish signals from the FOMC minutes continue to act as a headwind, keeping non-yielding assets under pressure. Market participants remain deeply divided on the Federal Reserve's path, with the probability of a rate cut in June currently standing at 50.4%. This significant uncertainty reflects a tug-of-war between persistent inflationary concerns and rising global instability. Consequently, gold remains in a consolidation phase as traders await a decisive catalyst to breach major psychological resistance levels.