Gold price edges lower to $2,335 in Monday’s early Asian session. The recent US inflation data added to market doubts about near-term US Fed rate cuts. Any escalating Middle East geopolitical tensions might boost safe-haven flows, benefiting precious metals. Gold price trades on a softer note near $2,335 on Monday during the early Asian session.
The US Fedis anticipatedto keep the policy rate in its current 5.25%–5.5% range on Wednesday and to continue to signalno urgency on cuts.The hawkish stance in market sentimentcould diminish the appeal of non-yielding metals and weighonthe gold price. On Saturday, Hamas said that it was reviewing a fresh Israeli proposal for a cease-fire in Gaza.
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