Gold Prices Firm Above $4,300 as Fed Rate Outlook and Geopolitical Risks Support Bullion

Gold prices held firm above $4,300 per ounce on Monday as investors continued to favor the precious metal amid weaker-than-expected U.S. economic data and lingering geopolitical tensions.

The spot price of gold traded at its strongest level in months, while U.S. gold futures also remained firm as markets reassessed the outlook for U.S. monetary policy.

The precious metal's rally reflects renewed buying interest following signs of slowing momentum in the U.S. labor market, which prompted investors to reduce expectations of another interest rate increase by the Federal Reserve this year.

A softer U.S. dollar has also provided support, making gold more affordable for holders of other currencies and boosting global demand.