Gold Maintains Gains as Trump Comments on War Ease Inflation Concerns
Gold prices held steady amid easing inflation concerns after U.S. President Donald Trump indicated that military action in the Middle East would likely be short-lived, reducing fears of prolonged conflict and its impact on energy prices. The comments helped stabilize gold markets following a three-day decline, with bullion trading around $4,385 an ounce as investors reassessed geopolitical risks. The dollar weakened slightly after a sharp rise in the yen, which increased gold's appeal for foreign currency holders. Federal Reserve Bank of New York President John Williams noted signs that inflation is easing despite higher energy prices not spreading to other sectors. This tempered expectations for an immediate interest rate hike and supported market stability as U.S. job growth remained moderate. Spot gold rose 0.1% in early trading, while silver also gained slightly. The broader dollar index was flat after falling the previous day.
