Gold steadies at 4331 dollars on ceasefire prospects
Gold prices rebounded from earlier lows as reports of potential peace negotiations between Israel and Iran eased geopolitical tensions. While a stronger dollar and robust U.S. jobs data continue to fuel expectations of a December interest rate hike, investors now await upcoming inflation data.
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Gold steadied at $4,331.69 per ounce on Monday midday as ceasefire hopes between Israel and Iran emerged. The metal recovered from its lowest level since March 23, despite pressure from a strong United States jobs report. This geopolitical pivot balances expectations for a Federal Reserve rate hike, which typically weighs on non-yielding assets.
