Gold prices whipsaw on US Fed posture

GOLD prices overturned bullish gains this week as market sentiments whipsawed on the possibility of additional US rate hikes in 2019. January's US Federal Open Market Committee minutes illustrated for patience on future adjustments in the Fed fund rates amid rising economic challenges this year. The US dollar regained composure from bearish showings as FOMC officials hinted at room for further hikes should economic conditions evolve in the later part of the year. US-China trade negotiations too exhibited positive signals as both parties outlined key commitments to resolve existing differences.

Heightened market optimism bolstered risk-on appetites as gold prices whipsawed from a record 10-month high. Bullion appeal, though softening on competing influences from interest-bearing assets, will remain supported on softer growth prospects and looming market risks in the longer term.

What should investors look out for next week?