Gold holds steady as markets await fresh signals from the Fed

Gold prices barely moved on Friday as the market held its breath ahead of a speech from a key Federal Reserve official whose remarks could hint at the future path of U.S. interest rates. The metal traditionally benefits from lower rates, since that reduces the opportunity cost of holding a non-yielding asset. In recent weeks gold has hovered near multi-year highs amid geopolitical uncertainty and steady buying from central banks worldwide. For retail investors, gold remains a portfolio diversification tool and an inflation hedge, particularly during periods of heightened uncertainty in bond and currency markets. Analysts caution that sharp moves are likely right after the speech, so short-term traders should brace for elevated volatility.