The dollar’s performance, inflation data, developments in China and geopolitical tensions are expected to influence gold prices in 2023
Bengaluru - Gold eased on Wednesday, pressured by an uptick in the US dollar, but prices moved in a tight range in subdued trading due to the lack of any fresh triggers.
Gold is seeing limited price action as trading activity is light ahead of the New Year holiday and there is no major economic data scheduled this week, said Hareesh V, head of commodity research at Geojit Financial Services. Gold has risen nearly $200 from a more-than-two-year low in late September as the dollar’s appeal was dented by expectations that the US Federal Reserve would slow its pace of interest rate hikes.
“Easing curbs in China would be positive for industrial metals on expectations of an increase in demand.”
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