Gold Stabilises Near $4,700 as Market Cools After Recent Rally

Gold prices remained largely unchanged in early trading on Monday, following last week’s decline that ended a four-week winning streak.

Spot gold held steady at $4,709.50 per ounce as of 0553 GMT. The metal had fallen around 2.5% last week, reflecting a pause in its recent upward momentum.

Meanwhile, U.S. gold futures for June delivery edged down 0.3% to $4,725.10 per ounce.

Other precious metals showed mixed performance. Spot silver slipped 0.1% to $76.61 per ounce, while platinum rose 0.2% to $2,015.63. palladium declined 0.6% to $1,487.73 per ounce.

Market analysts note that precious metals continue to fluctuate as investors monitor global economic signals and shifts in demand across financial markets.