Gold prices started the week strong due to safe haven demand and market sentiment, but weakened as central bank comments and lack of geopolitical energy boosts affected investor appetite.
Gold kicked off the week at high levels as it traded near $2,050 per ounce, buoyed by the Middle East conflict’s safe haven demand and stubborn market sentiment that rate cuts are coming sooner rather than later.
But as the shortened holiday week rolled onward, a steady diet of hawkish central bank comments and the absence of any energy boosts from geopolitics weakened investors’ appetite for the yellow metal
Gold Prices Central Bank Safe Haven Demand Market Sentiment Rate Cuts Holiday Week Hawkish Geopolitics Investors
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