Gold Rebounds Amid Economic Uncertainty

The price of gold experienced a significant rebound on Thursday, climbing 1% following the United States Federal Reserve's decision to maintain interest rates unchanged for the fifth consecutive time. This decision, coupled with the Fed's indication that a rate cut later this year is unlikely, has seemingly driven investors towards safe-haven assets like gold.

Geopolitical Tensions Add to Market Jitters

Adding to the economic uncertainty, ongoing geopolitical tensions, particularly in Ukraine, have remained a focal point. US President Donald Trump's recent adoption of a tougher stance towards Russia has further contributed to the market's unease.

At 4:15 am ET, gold prices were up by 1.03%, reaching $3,308.89 per ounce.