Gold price (XAU/USD) rebounds to around $4,095 during the early Asian session on Thursday. The precious metal edges higher after the US Federal Reserve (Fed) decided to leave interest rates unchanged, a hold delivered over three dissenting votes and against a fresh eruption of fighting between the US and Iran. As expected, the Fed left the Federal Funds Rate in its current target range between 3.50% and 3.75% at its July policy meeting on Wednesday. They stress that “there is potential for the gold price to recover from its current level,” as they “consider current market expectations of Fed rate hikes to be excessive” and instead “anticipate that Fed interest rates will remain unchanged until the end of the year.” In their view, a less aggressive Fed path than currently priced would provide a more supportive backdrop for Gold over the coming quarters.