Commodity Roundup: Gold, oil trade in green; Soybean futures up ahead of USDA report


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Gold (XAUUSD:CUR) prices held steady on Thursday as Middle East tensions continued, which countered pressure from uncertainty around the timing of potential rate cuts. While gold is traditionally seen as a safe way to preserve wealth during economic and geopolitical turmoil, the non-yielding metal suffers when interest rates rise. Spot gold was trading +0.02% at $2,034.61 by 6 am ET. Oil prices also rose after Israel rejected a ceasefire offer from Hamas. The wider Middle East tensions have kept the market on edge since October, with limited progress in talks to end the Gaza conflict. Meanwhile, a stronger-than-expected drawdown in...