Gold prices remained range-bound, struggling to break past record highs as investors turned their attention to the upcoming US GDP report for clues on the economy’s strength. With markets uncertain about the Federal Reserve’s next move, traders refrained from taking aggressive positions in XAU/USD, keeping price action limited.
Despite recent bullish sentiment, gold failed to gain momentum, as strong US economic data and firm Treasury yields continued to pressure the metal. Investors are waiting for fresh signals on whether growth remains robust, which could influence the Fed’s policy stance and impact the US dollar’s trajectory.
The uncertainty around the Fed’s rate path has kept gold in consolidation, with traders hesitant to push prices higher without clearer direction. If US GDP data surprises to the upside, expectations of prolonged higher interest rates could weigh on gold’s appeal, limiting upside potential. On the other hand, weaker growth figures could revive bets on Fed easing, supporting gold prices.
Broader market sentiment remains cautious, with geopolitical risks and global economic concerns providing underlying support for gold. However, without a definitive shift in US monetary policy expectations, any major rally in XAU/USD could face resistance.
For now, gold remains in a tight range, with upcoming US economic data likely to determine its next move. Traders will closely monitor the GDP release and Fed commentary, looking for signals that could drive a more decisive shift in gold prices.
