New York gold futures closed up $75.50, or 1.85%, at $4,151.90 an ounce on Wednesday, supported by a weaker dollar and technical buying, as investors monitored Middle East tensions and the Federal Reserve meeting next week. A softer dollar index made gold more attractive for holders of other currencies. An analyst at FXTM noted that gold prices bounced above $4,140 on bargain hunting after a prior decline, but the upside may be capped by oil prices surging more than 3% to their highest in over six weeks amid U.S. strikes on Iran and Houthi threats to attack Saudi oil tankers, stoking inflation fears and the prospect of Fed rate hikes. The CME FedWatch Tool showed investors pricing in a 66% chance the Fed will hold rates steady at its July 28-29 meeting, but a 76% chance of a hike in September.