Gold remains supported by global economic data that reinforces expectations of an interest rate cut by the US Federal Reserve, reducing real yields and increasing gold's appeal as a safe-haven asset. Following the latest lower-than-expected US inflation figures, the dollar weakened slightly and bond yields fell, which traditionally makes gold more attractive to global investors.
However, gold is moving cautiously due to the dollar's recent strength and market sentiment being sensitive to subsequent US economic data. Demand for physical gold and interest from central banks remains strong, but prices are likely to stabilize around high levels while awaiting further clarity on the direction of global monetary policy. (az)
Gold price at the time of this analysis was released was $4,317.
Disclaimer
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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