Gold Holds Near Two-Week High, Dollar Weakens
Gold prices held steady around a two-week high, holding above US$4,790 per ounce on Thursday. This increase extended a four-day rally, supported by a weaker US dollar amid hopes for an easing of the Iran conflict.
Market sentiment was also influenced by signals from US President Donald Trump indicating a possible end to US military operations in Iran. Investors' attention is now focused on Trump's rare prime-time address, after the conflict has persisted for more than a month.
A White House official said Trump is expected to outline a target for completing operations within two to three weeks. This development has helped push oil prices lower from their previous highs, while also pushing the dollar index back from a 10-month peak reached earlier this week.
Gold has risen more than 6% this week, its biggest weekly gain in 10 weeks. The gains occurred as market participants rebalanced their positions amid changing expectations for the direction of US monetary policy.
Investors' focus is also on reassessing the Federal Reserve's interest rate path, considering a combination of factors: potential geopolitical de-escalation, concerns about slowing growth, and lingering inflation risks. (asd)
Source: Newsmaker.id