Gold slides below $2,050 as dollar strengthens on Fed ambiguity

Gold Prices Rise Slightly in Asian Trade on Dollar Rebound

Gold prices in Asian trade saw a slight increase on Thursday, although they remained below key levels due to a rebound in the dollar. Investors are growing doubtful about when the Federal Reserve will begin trimming interest rates, which has led to a cautious approach to buying non-yielding assets like gold. The yellow metal experienced a strong surge at the end of 2023, driven by optimism that the Fed could start cutting rates as early as March 2024. However, profit-taking and reduced expectations of early rate cuts have resulted in a mild setback at the start of the new year. Gold rose 0.1% to $2,043.68 an ounce, while silver saw a 0.4% increase to $2,050.95 an ounce.