Gold prices held steady on Friday, defending the key $4,000 support level. The market saw some gains during a holiday session, which typically brings lower trading activity.
Asian traders showed a preference for gold, contributing to its strength. This comes as many investors question the direction of the US dollar.
The $4,000 mark is a significant psychological level for traders. A break below the $3,900 level would signal a negative turn for the metal.
Traders are monitoring developments in the Middle East and upcoming interest rate decisions from the Federal Reserve. Weak US jobs data released on Thursday also influenced market sentiment. Analysts expect continued choppiness and volatility in the gold market.
