Gold remains bid as lack of Fed clarity and geopolitical frictions persist

Gold (XAU/USD) is showing stable upward movements on Friday, with traders booking profits ahead of the weekend, while still holding onto gains of over 0.51% after reaching a seven-week high of $4,353. At present, XAU/USD is trading at $4,302, as market participants digest comments from Federal Reserve officials. The uncertainty surrounding the Fed's policy supports gold demand, with traders closely monitoring interest rate changes. Additionally, ongoing geopolitical tensions are enhancing gold's appeal as a safe-haven asset. These factors combined contribute to a stable gold price and potential upward movements towards new highs. From a technical perspective, with prices approaching past highs, profit-taking may emerge in the short term; however, until there is clarity on the Fed's policy, the sustainability of upward movements remains uncertain. Investors should monitor developments with caution.