Gold Prices Rise Slightly, Awaiting the FOMC's Green Light!
Gold futures rose 0.1% to $3,327.30 a troy ounce on Wednesday during thin trading, snapping a four-day losing streak. The bounce signals the return of dip-buying interest and reflects ongoing market appreciation of gold’s safe-haven appeal, says XS.com analyst Linh Tran.
Prior weakness was largely driven by optimism around global trade, which temporarily reduced gold’s defensive demand. However, Tran notes that from a medium- to long-term perspective, gold remains well-supported by strong and sustainable fundamentals.
Geopolitical tensions continue to present risks, and markets are increasingly expecting interest-rate cuts later this year, particularly from the U.S. Federal Reserve. These factors contribute to gold’s long-term attractiveness as a store of value.
While short-term price fluctuations are possible, the longer-term outlook for gold remains bullish. Investors are likely to continue turning to gold for stability amid ongoing global uncertainty.
Source: Newsmaker.id
