Gold Steadies as Traders Eye US Data, Shrug Off Geopolitical Tensions

• Gold steadied near $4,490 after three days of gains, with traders prioritizing US economic data over geopolitical risks.
• Key US economic data, including the December jobs report on Friday, is in focus, alongside hopes for further Federal Reserve interest rate cuts.
• Fed Governor Stephen Miran suggested significant rate cuts in 2026, following last year's cuts that boosted precious metals.
• Gold achieved its best annual performance since 1979, while silver surged nearly 150% due to shortages and retail investor demand, especially from China.
• Near-term concerns include potential outflows from gold and silver futures due to commodity index rebalancing, estimated at $6.8 billion each by Citigroup Inc.

Why It Matters: Traders are focusing on US economic data and Fed rate cut prospects, driving gold and silver prices despite geopolitical risks.