Market Recap: Gold Ends Week Flat As Rally Stalls Near Key Resistance
Prices moved within a narrow band between US$2,280 and US$2,310, reflecting a consolidation phase driven by mixed market cues. Early gains were fuelled by safe-haven buying amid lingering geopolitical risks and disappointing global economic data. However, stronger US Treasury yields and a rebound in risk appetite later in the week curbed further upside.
Investor appetite for gold was also tempered by slowing inflows into gold-backed ETFs and reduced speculative positioning in futures markets. Analysts noted that market participants were in wait-and-see mode, anticipating US Federal Reserve (Fed) commentary and upcoming economic indicators that could offer clarity on the interest rate path.
For now, gold remains supported by ongoing concerns over inflation, central bank policy uncertainty and geopolitical tensions, all of which keep the long-term bullish case intact.
Market watchers are eyeing this week's US GDP and Personal Consumption Expenditures inflation data, as well as speeches from key Fed officials, for direction. Any signs of easing inflation or dovish rhetoric could provide renewed fuel for gold bulls. Related
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The Star
2 hours ago
- The Star
South Korea's ramyeon makers vie to acquire suppliers for flavour 'soupremacy'
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The Star
2 hours ago
- The Star
Ringgit ends slightly lower against US dollar ahead of Fed rate decision
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New Straits Times
2 hours ago
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Ringgit ends slightly lower against US dollar ahead of Fed rate decision
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