3 December 2024
Gold prices retreated as the dollar strengthened, with investors eagerly anticipating Friday’s US jobs data for insights into the Federal Reserve’s next move. Trading around $2,640 an ounce after a 2.7% drop last week, gold faced pressure from a stronger dollar and reduced safe-haven demand following a Middle East ceasefire. However, ongoing geopolitical tensions and expectations of potential rate cuts continue to support gold’s overall bullish trend.