Gold Hangs Tough Below $5,000 as Strong Dollar and Geopolitical Tensions Keep Traders on Edge

Gold hovered just below $5,000 on Thursday, unable to extend recent gains as investors balanced a strong US Dollar with ongoing global uncertainties. The precious metal has drawn attention as a safe-haven amid rising tensions in the Middle East.

Prices stayed around $4,975 per ounce, consolidating after briefly reaching $5,021 earlier in the day. A stronger US Dollar, supported by positive economic data, has kept pressure on gold.

Concerns over potential US military action in the Middle East have added to gold’s appeal as a safe investment. Historically, such geopolitical risks tend to boost demand for gold, helping it hold value even when the dollar is strong.

Investors remain cautious but optimistic, watching both economic updates and international developments closely. Any dip in price is expected to attract buyers, while a stronger move upward could renew momentum.

Overall, gold remains in focus as a haven amid uncertainty, balancing the effects of a firm US Dollar with geopolitical concerns around the world.