Gold Stabilizes as Consolidation Edges Out Liquidations
Gold prices continue to trade below the key $4,200 resistance level, but recent market activity suggests the prolonged wave of selling may be losing momentum. According to Saxo Bank's Head of Commodity Strategy Ole Hansen, the market appears to be transitioning from widespread liquidation to a period of consolidation, with investors gradually rebuilding positions rather than exiting them aggressively. The direction of gold remains closely tied to expectations for U.S. monetary policy. While markets still anticipate the possibility of higher interest rates, expectations have become less aggressive after weaker-than-expected U.S. employment data showed just 57,000 jobs were added last month.…