Gold prices rangebound as rate cut fears persist
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Gold prices remained rangebound as concerns about potential rate cuts persisted. The dollar eased from three-month highs, providing some relief for gold prices. However, waning bets on early U.S. interest rate cuts kept the outlook for gold uncertain. Bullion prices were negatively impacted by expectations of higher interest rates, which increase the opportunity cost of investing in gold. Gold prices steadied at $2,035.12 an ounce, while gold futures expiring in April were flat at $2,050.95 an ounce. The market is awaiting more cues on the U.S. economy, particularly the upcoming U.S. inflation data for January, to guide price movements in gold.
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