Gold Resilient as Safe-Haven Demand Counterbalances Rising Dollar Gold prices remained stable Wednesday, balancing between geopolitical tensions that boosted its safe-haven appeal and a strengthening U.S. dollar that typically diminishes gold's attractiveness to investors holding other currencies. Despite fluctuating conditions, spot gold was flat at $2,315.98 per ounce by midday GMT, while U.S. gold futures saw a minimal decrease of 0.01% to $2,324.00. The dollar's recovery, influenced by speculation about potential Federal Reserve rate cuts, contrasts with the ongoing uncertainty regarding inflation and the Fed's future monetary policy. With traders estimating a 65% likelihood of a rate cut by September, gold's status and pricing reflect a complex interplay of market forces and economic indicators.
https://www.cnbc.com/2024/05/0....8/gold-slips-as-doll