Gold Holds Steady in Early Asian Trade as Dollar Weakness Provides Support

Deep News12-12

Gold prices remained stable during early Asian trading hours, supported by a softer US dollar which typically makes the precious metal more affordable for potential buyers holding non-dollar currencies. Spot gold showed little change, trading at $4,278.76 per ounce.

Carsten Menke from Julius Baer commented, "We anticipate further dollar weakness, but we attribute this to cyclical and structural factors rather than deliberate devaluation by policymakers." The head of Next Generation Research added, "We maintain our constructive outlook on gold, which continues to be supported by robust investment demand and strong central bank purchases."

The market outlook for gold remains positive as these fundamental factors continue to underpin prices.

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