Gold Prices Hold Steady in Early Asian Trading, Potential Technical Rebound Ahead

Deep News
6 hours ago

Gold prices remained stable during the early Asian trading session but may see a technical rebound after the nearby gold futures contract settled down 2.9% on Thursday. Spot gold was largely unchanged, trading at $4,922.33 per ounce. Following a strong U.S. jobs report that raised the bar for further monetary easing by the Federal Reserve, the precious metal has been under pressure. However, the bullish outlook for gold remains intact, with the path to new all-time highs still open. It was further noted that continued macroeconomic uncertainty and rising deficits are expected to keep the U.S. dollar weak, driving demand for gold from both institutional and individual investors.

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