Gold prices steady above $5k/oz, more rate cues awaited

Global gold prices maintained stability above the $5,000 per ounce mark on Monday as investors awaited further clarity on interest rate decisions from major central banks. The precious metal, which has been hovering near this psychological level for several weeks, continues to attract safe-haven demand amid persistent economic uncertainty. Trading volumes in major financial centers including New York, London, and Shanghai remained moderate, with market participants closely watching policy signals from the Federal Reserve and European Central Bank. Analysts suggest that gold's resilience above $5,000/oz reflects growing concerns about inflationary pressures despite recent cooling in some economic indicators. The market is particularly focused on upcoming inflation data and central bank meetings that could influence the trajectory of interest rates, which have a significant impact on non-yielding assets like gold. Some traders noted increased buying from institutional investors seeking portfolio diversification amid volatile equity markets and geopolitical tensions in various regions.