Gold prices stabilized in Asian trading on Thursday, recovering some recent losses as increased volatility in risk-driven markets, particularly equities, kept safe havens in relatively strong demand.

• Broader metal markets advanced but remained within a defined range amid uncertainty regarding the global economy and interest rates.

• Spot gold rose by 0.5% to $2,394.15 an ounce, while gold futures expiring in December remained steady at $2,433.10 an ounce.

• The yellow metal stayed close to the $2,400 an ounce level.

• Risk-driven markets experienced sharp fluctuations in recent sessions, with Wall Street settling lower despite a strong start on Wednesday, and Japanese markets swinging between gains and losses on Thursday. This kept safe havens like gold and the Japanese yen relatively well-bid, although they saw some weakness this week as broader markets experienced a temporary rebound.

• Markets are betting that deteriorating economic conditions will increase gold prices in the medium term.

• Meanwhile, platinum futures rose by 0.8% to $930.15 an ounce, and silver futures increased by 0.1% to $26.975 an ounce.

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