Is there Potential Upside Ahead for Gold (XAU) as it Remains Steady at $2,314?

Are you keeping an eye on the gold market? At Extreme Investor Network, we are closely monitoring the latest developments in the gold prices. Currently, gold prices (XAU/USD) are hovering around $2,314 per ounce, but why is it staying subdued?

Geopolitical tensions and Federal Reserve policies are playing a significant role in weighing down on gold prices. Despite being considered a safe haven asset, gold has not seen a significant surge in value amidst the ongoing geopolitical tensions in the Middle East and potential de-escalation between Israel and Hamas.

The strength of the U.S. dollar, reflected in the 0.5% increase in the U.S. Dollar Index to 103.2, coupled with the hawkish commentary from Federal Reserve officials, is reinforcing the expectation that U.S. interest rates will remain high for an extended period. This has contributed to the constrained outlook for gold trading.

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