Gold prices remained stable during thin trading on an Asian holiday. Spot gold was flat, quoted at $4,617.13 per ounce. According to a report from XS.com's Simon-Peter Massabni, gold is under increasing pressure due to stalled diplomatic efforts aimed at ending the Middle East conflict and uncertainty surrounding the Federal Reserve's near-term monetary policy easing prospects. Massabni added that significant outflows from gold exchange-traded funds (ETFs) are also weighing on the precious metal.
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