Gold prices have stalled near $2,640 per ounce, struggling to break out of a narrow range as mixed market signals leave investors cautious. Despite its status as a safe-haven asset, subdued appetite reflects traders’ focus on upcoming U.S. economic data and Federal Reserve policy decisions. Many are awaiting fresh catalysts to determine whether the metal can regain momentum or remain stagnant.
The U.S. dollar’s strength and rising Treasury yields are adding pressure on gold, making it less attractive than interest-bearing assets. These factors have dampened its appeal, even as global economic uncertainty and inflation risks linger. Persistent concerns about market instability are providing some support, keeping gold prices anchored despite mounting headwinds.
Market participants are now eyeing macroeconomic developments and central bank commentary for direction. Key data releases or unexpected shifts in the Fed’s stance could significantly influence gold’s trajectory in the near term, determining whether it stays within its current range or resumes its climb.
