"Gold steadied around USD 4,100 on Thursday, finding support after a sharp two-day slide, as investors weighed renewed geopolitical tensions and upcoming US inflation data. The metal paused its decline despite lingering headwinds, including a firmer dollar and this week's largest single-day outflow from gold-backed ETFs in five months. On the geopolitical front, Washington announced new sanctions on Russia's two largest oil companies after the planned Trump-Putin meeting was shelved, while cross-border strikes intensified near Russia's Belgorod region."
"Meanwhile, reports indicated that the US is considering fresh export restrictions on China tied to American-made software, although President Donald Trump confirmed plans to meet Xi Jinping, which could fuel uncertainty. In the Middle East, the ceasefire in Gaza remained fragile. Monetary policy expectations continued to provide a floor for bullion. Markets still anticipate two additional Federal Reserve rate cuts by year-end, with traders now focused on Friday's CPI reading to refine the outlook."
Gold traded near USD 4,100 after a sharp two-day decline and found support amid renewed geopolitical tensions and anticipation of US inflation data. The metal's pause in its fall came despite a firmer dollar and the largest single-day outflow from gold-backed ETFs in five months. Washington imposed new sanctions on Russia's two largest oil companies while cross-border strikes intensified near Belgorod. The US is reportedly considering export restrictions on China tied to American-made software, and a fragile Gaza ceasefire persists. Markets still price in two Fed rate cuts by year-end, with Friday's CPI key for near-term direction.
Read at London Business News | Londonlovesbusiness.com
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