Gold prices rebounded toward $4,600 per ounce in electronic trading on Tuesday after gaining more than 2% in the previous session. The rally was supported by easing geopolitical tensions following the announcement of a US-Iran interim peace framework, which reduced concerns over energy-driven inflation and improved overall market sentiment. Investor focus has now shifted to the Federal Reserve's upcoming policy meeting, the first under Chair Kevin Warsh. While interest rates are widely expected to remain unchanged, markets will closely watch the Fed's commentary for clues on the inflation outlook after recent price data exceeded expectations. A packed week of US economic releases, including retail sales and jobless claims data, is also expected to influence sentiment across bullion markets. Meanwhile, MCX August gold futures edged 0.2% higher to Rs 1,53,230 per 10 grams, tracking gains in the global bullion market.
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