Posted 12/27/2023, 7:18:00 AM
Gold Holds Steady Near $2,060 as Geopolitical Tensions Support Safe-Haven Demand, Weaker US Data Weighs on Dollar
- Gold price moves sideways around $2,060 per ounce amid low trading volumes
- Middle East tensions boost demand for gold as a safe-haven asset
- Softer US data last Friday put downward pressure on the US Dollar
- Markets have priced in interest rate cuts by the Federal Reserve in 2023-2024
- Weaker-than-expected US inflation data also weighed on the US Dollar this week