Gold kicked off the week at high levels as it traded near $2,050 per ounce, buoyed by the Middle East conflict’s safe haven demand and stubborn market sentiment that rate cuts are coming sooner rather than later.
But as the shortened holiday week rolled onward, a steady diet of hawkish central bank comments and the absence of any energy boosts from geopolitics weakened investors’ appetite for the yellow metal.
But as the shortened holiday week rolled onward, a steady diet of hawkish central bank comments and the absence of any energy boosts from geopolitics weakened investors’ appetite for the yellow metal.