Gold prices held steady near $4,190 per ounce on Monday, consolidating recent gains after posting its first weekly advance since May.
The stabilization marks a pause in the metal's volatility as traders assess the balance between safe-haven demand and headwinds from a strengthening US dollar.
The precious metal’s resilience reflects a shifting market narrative.
While concerns over immediate geopolitical risks have eased, renewed investor caution regarding the durability of the US-Iran peace agreement continues to underpin demand.
This sentiment has prevented a deeper pullback despite the broader macro environment favoring the dollar.
Previously, gold was on track to record a fourth consecutive weekly decline, driven by the greenback’s strength and fading urgency around Middle East tensions.