Gold Prices Hold Steady Despite Market Volatility

Gold's strength now relies on how much support is in the marketplace, even as speculative interest starts to drop. The Federal Reserve's hawkish pause caused gold prices to drop to a three-month low, testing support at $1,930. However, the gold market did not stay down for very long, as it was back in its previous $30 trading range before the end of the week. Hedge funds are starting to test the waters in the silver market for the second consecutive week. Copper has seen a significant bounce off last month's lows, but the rally could be running out of momentum.