Gold Stuck Near $4,300 Amid Hawkish Central Banks and Geopolitical Risks
Gold prices have remained flat near $4,300 as traders await central bank decisions this week. The US Federal Reserve, Bank of England, and Bank of Japan are set to announce their decisions on Wednesday, Thursday, and Friday respectively.
The growing expectation that central banks will maintain a hawkish stance has boosted the US Dollar, capping gold's upside. Rising Fed rate-hike bets and geopolitical risks have contributed to this trend, with crude oil prices near a May 21 high amid Middle East tensions.
US President Donald Trump has also weighed in, urging the Fed to keep rates unchanged or lower them, further holding back aggressive bearish bets on gold. However, some caution is warranted before positioning for deeper losses, as any attempted recovery might still be seen as a selling opportunity.