Gold futures remained steady, trading near historic highs as the market anticipates new factors that could affect the asset’s direction.
Key data releases, including retail sales reports and unemployment claims as well as speeches from several Fed officials, are expected to offer valuable insights into upcoming monetary policy decisions.
Any significant shifts in the Fed’s rate adjustment strategy, going forward, could greatly influence market sentiment and impact gold prices.
The recent rebound of the dollar and Treasury yields could also constrain gold’s upside potential. However, ongoing easing cycles from major central banks continue to support a positive outlook for gold. The precious metal also benefits from increasing demand as a safe haven amid geopolitical tensions. Recent escalations between China and Taiwan, coupled with ongoing risks in the Middle East could exacerbate risk aversion and drive investors toward safe haven assets.