Gold prices remained relatively stable on Friday, hovering near the multi-week highs reached earlier in the week. The market is awaiting further cues from upcoming economic data and developments in global affairs.

Market Factors

Several factors are contributing to the current stability in gold prices:

• Economic Uncertainty: Concerns about global economic growth continue to support demand for safe-haven assets like gold.
• Geopolitical Risks: Ongoing tensions in various regions are also prompting investors to seek refuge in gold.
• Central Bank Policies: Expectations regarding future monetary policy decisions by major central banks are influencing market sentiment.

Analyst Commentary

Analysts suggest that gold prices could see further upside if economic data disappoints or geopolitical risks escalate. However, a stronger-than-expected economic recovery could weigh on prices.

Investors are advised to monitor key economic indicators and geopolitical events closely to gauge the future direction of gold prices.