Gold Steady Near USD 4,000, Investors Assess Geopolitical Risks

Gold traded within a narrow range near the USD 4,000 mark on Thursday, pausing its record-breaking rally as some investors took profits and optimism grew over a potential ceasefire in Gaza.

President Donald Trump announced that Israel and Hamas had agreed to the first phase of a US-brokered peace plan, including a ceasefire and a hostage-prisoner exchange. The development, confirmed by both sides and mediator Qatar, raised hopes of an end to the two-year conflict, tempering safe-haven demand.

READ ALSO: Global Stock Markets Set to Rally on Trump-Backed Gaza Deal

Retail Trading Data Show Heavy Buying in Gold, Rising Optimism Across US Indices

Still, the metal’s broader bullish momentum remained intact. The ongoing US government shutdown has delayed key data releases and heightened uncertainty over fiscal stability.

Minutes from the September FOMC meeting showed that policymakers view labour market risks as significant enough to justify further rate cuts, even as they remain cautious amid persistent inflation. Markets are now fully pricing in two additional 25-basis-point reductions this year, reinforcing the appeal of non-yielding assets like gold.

Meanwhile, Fadi Al Kurdi,  founder of CEO FFA Kings, said tensions in Eastern Europe persisted, sustaining a floor for safe-haven demand.

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