Gold Prices Stabilize as Investors Await US Economic Data
Precious metal holds steady after Monday's decline, with easing yields and moderated rate hike expectations.
Business & Markets • 2 hours ago
Gold prices showed stability in early Asian trade, recovering from a selloff experienced on Monday. The market is currently awaiting key U.S. economic data for direction.
The recent stabilization in gold prices is attributed to a moderation in oil prices and U.S. Treasury yields, alongside a tempering of expectations regarding further interest rate hikes by the Federal Reserve. Analysts at OCBC Group noted these factors contributed to the easing of selling pressure seen earlier in the week.