Gold prices are trading in today’s European session above 2300 levels.
Gold prices in European trading saw a slight uptick on Wednesday, though support from safe-haven demand was limited due to recent comments from Federal Reserve officials, causing uncertainty about potential interest rate cuts.
While the precious metal attracted some safe-haven interest this week amid escalating tensions between Israel and Hamas, coupled with slow progress in ceasefire negotiations, this demand was offset by concerns about a resurgence in elevated U.S. interest rates and a strengthening dollar.