Gold prices edge higher as geopolitical risks support safe-haven demand

Gold prices edged higher on Wednesday, possibly experiencing a technical rebound. Previously, near-month gold futures fell 2.8% overnight, dropping to a two-week low. Konstantinos Chrysikos, Head of Client Relationship Management at Kudotrade, stated that reduced liquidity amid major market closures due to holidays may intensify short-term price fluctuations. However, the broader outlook for gold remains largely unchanged. He pointed out that although diplomatic channels in Eastern Europe and the Middle East are active, no actual agreements have been reached in these two regions, which maintains geopolitical risks and demand for precious metals.