Gold Prices Stabilize Above $4,300 Amid Dollar Strength

Gold prices have stabilized above $4,300 after experiencing volatility in the previous session. The metal's recovery was attributed to easing oil prices, which reduced inflation concerns and limited upside momentum.

The US dollar's strength continued to pressure gold, with renewed expectations of further Federal Reserve tightening limiting its potential for growth. However, geopolitical uncertainty and strong Chinese demand provided underlying support for the metal.

Traders are watching the $4,400 resistance level and the $4,300 support level, with the price currently testing the 50 EMA. The immediate focus is on whether gold can maintain support above the 50 EMA and rebuild momentum towards the $4,400 resistance area.