Gold prices remained stable above $2,910 per ounce on Wednesday, buoyed by its safe-haven status and a weaker US dollar. Trade uncertainties and recession fears continue to support gold, although geopolitical risks have eased slightly. Investors are now waiting for the US CPI data to get clues about the future path of interest rates.
- Gold steadied above $2,910 per ounce.
- Gold’s stability is supported by its safe-haven appeal.
- A weaker US dollar also contributes to gold’s support.
- Global trade uncertainties and recession concerns drive investors toward gold.
- Geopolitical risk premiums eased due to US-Ukraine developments.
- Markets await US CPI data to assess the Fed’s interest rate stance.
The persistent economic and geopolitical anxieties appear to be maintaining demand for assets perceived as safe during turbulent times. Easing of certain geopolitical concerns tempers the rise, while the expectation of upcoming economic data has increased market anticipation. This balance keeps the asset price steady.