Apr 22, 2024 (MENAFN via COMTEX) --
(MENAFN - Your Mind Media ) th April 2024
Gold prices surged early today before relinquishing most of the gains as tensions in the Middle East intensified. This has increased demand for safe-haven assets as fears of a larger regional conflict grew. Geopolitical tensions could remain a strong driver for gold prices in the face of uncertainty in the Middle East.
Central banks' gold purchases could also remain an important source of support and could help gold prices continue to climb. The People's Bank of China, remains a steadfast buyer, continuing its gold purchasing streak into its 17th consecutive month in March.
However, changing monetary policy expectations remain a source of risks for the gold market and could cause some price corrections. Federal Reserve policymakers are considering whether to maintain monetary conditions for an extended period, given the uneven progress in addressing inflation and the robustness of the U.S. economy. High interest rates for longer could weigh on gold.
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COMTEX_451249928/2604/2024-04-22T18:43:11
