Gold Clings to Stability Amid High Interest Rate Fears

Gold prices have remained relatively stable in recent trading sessions, dropping below $2,000/oz briefly, before climbing back above $2,030/oz. Despite a U.S. market holiday contributing to limited trading cues, gold has shown resilience, bouncing back from a two-month low to hover around the $2,000 to $2,050 an ounce mark through much of 2024. This stability comes as geopolitical tensions in the Middle East and between Russia and Ukraine offer some support to gold’s value.