Gold futures rose in relatively quiet trading, regaining some ground after Tuesday's sharp selloff. Futures rose 0.3% to $2,927.80 an ounce, nearing an all-time high of $2,974 an ounce hit on Monday. The German election results were well-received by the market, while optimism grew for a Russia-Ukraine peace deal, Nikos Tzabouras of Tradu said in a note. These developments boosted market sentiment, which led to a decline in gold prices on Tuesday, Tzabouras wrote. However, while a deeper correction in the near-term cannot be ruled out, the path of least resistance remains to the upside. Gold's safe-haven aspect should keep the precious metal in demand during Trump's second term. Trade wars continue to threaten the global economy, while the risk of domestic economic stagnation looms as Trump's trade policies continue to be disruptive, Tzabouras added. (Newsmaker23)
Source: Dow Jones Newswires
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