Gold's price remains above $2,500 an ounce, boosted by optimism surrounding potential rate cuts and ongoing geopolitical tensions, notably in Gaza negotiations.
Market sentiment was lifted by poor housing data and expectations of Fed rate cuts this year, pushing COMEX gold futures to approach $2,550.
A hawkish tone from the Fed could negatively impact gold prices, while rising inflation rates, alongside unresolved Gaza ceasefire negotiations, adds further pressure.
Without significant progress in Gaza ceasefire talks, fears of regional conflict will likely keep gold in a strong position, preserving its historical value.
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