In the medium and long term, gold's outlook could remain favorable due to inflows into gold ETFs, expectations of interest rate cuts, and ongoing geopolitical risks.
Despite recording some profit-taking recently, gold continued to trade sideways near record highs, indicating strong investor interest amid geopolitical tensions.
A more resilient dollar may cap significant price advances for gold in the short term as investors keep an eye on jobs data and Federal Reserve comments.
Market participants are particularly focused on the upcoming Nonfarm Payrolls (NFP) report for insights into the strength of the U.S. labor market and its impact on monetary policy.
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