Gold prices are trading in today’s Asian session around 2320 levels.
Gold prices in Asian trading on Wednesday experienced a slight increase, with limited backing from safe-haven demand due to recent remarks from Federal Reserve officials prompting uncertainty about potential interest rate cuts.
The precious metal did witness some safe-haven interest this week amid escalating tensions between Israel and Hamas, coupled with minimal progress in ceasefire negotiations.
However, this demand was countered by concerns about elevated U.S. interest rates resurfacing, along with a strengthening dollar.