Gold prices stabilized on Monday following a slight correction, as market participants considered the implications of ongoing geopolitical tensions and trade uncertainties. Developments regarding a cease-fire in Eastern Europe may affect gold negatively, while heightened tensions in the Middle East could provide upward support. Furthermore, the unpredictable trade policy and the concern over the US economy remain significant factors influencing gold. Upcoming US GDP growth data will be closely watched for insights into the economy's direction, highlighting the delicate balance between various global pressures and the bullion's value.
Potential developments around a cease-fire agreement in Eastern Europe could weigh on gold.
An increase in tensions in the Middle East could counterbalance the impact and help support gold prices and a return to the upside.
The lack of clarity around US trade policy could continue to unsettle markets.
Attention shifts to this week's US GDP growth data, which may offer critical insights into the direction of the US economy.
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