Despite the strong headwinds posed by a robust U.S. dollar and rising Treasury yields, gold has managed to reach $2,660 per ounce, highlighting its resilience as a safe-haven asset.
The recent JOLTS report showing 8.1 million job openings and an ISM services index of 54.1% indicates strength in the U.S. economy, but raises concerns about persistent inflation.
The delay in expected interest rate cuts by the Federal Reserve until the second half of 2025 pressures gold's appeal, as higher interest rates typically have an adverse effect on non-yielding assets.
Geopolitical uncertainties, including potential tariffs and ongoing physical gold accumulation by the Chinese Central Bank, have countered some negative factors, reinforcing gold's status as a safe-haven investment.
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