The European Central Bank ECB reaffirmed its commitment to act decisively in response to significant deviations in inflation whether above or below target as part of its newly outlined five-year strategy, unveiled on Monday. The strategy comes at a time of heightened global economic uncertainty.
Gold prices stabilized on Wednesday as demand for safe-haven assets eased after the announcement of a ceasefire between Iran and Israel. Despite subdued investor appetite, a weaker U.S. dollar and bargain hunting following the previous sessions decline helped limit further losses in the precious metal.
Global gold prices fell on Tuesday to their lowest level in nearly two weeks, following an announcement by U.S. President Donald Trump that Iran and Israel have agreed to a ceasefire, ending a 12-day conflict. The news dampened investor demand for the precious metal as a safe haven.
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