Gold Holds Near $5,000 Amid Lunar New Year Holiday

Gold prices remained stable near $5,000 an ounce as Lunar New Year holidays muted trading, following a 1% decline the previous session. The metal rallied after modest U.S. inflation data bolstered expectations of Federal Reserve rate cuts, with analysts at BNP Paribas, Deutsche Bank, Goldman Sachs, and Jefferies forecasting a resumption of the upward trend driven by geopolitical tensions and a shift away from currencies and bonds. Spot gold was unchanged at $4,990.08, silver slipped 0.1% to $76.58, platinum declined slightly, and palladium rose 0.4%.