Gold Prices Hold Steady Globally, Supported by Weak Dollar and U.S. Jobs Data Anticipation
Gold prices remained steady in Wednesday’s trading, as investors awaited key U.S. labor market data and developments in U.S. monetary policy, amid ongoing cautious signals from Federal Reserve Chair Jerome Powell regarding interest rate cuts.
Spot gold held at $3,339.99 per ounce, while U.S. gold futures settled at $3,349.70 per ounce.
The yellow metal received some support from the weaker U.S. dollar, whose index fell to its lowest level in over three years, boosting gold’s appeal to holders of other currencies. Additionally, political developments in Washington contributed to gold’s safe-haven demand, as market expectations for the Fed’s interest rate path remain volatile in the coming period.
