International gold prices swung sharply this week and began to stabilize after three straight days of declines, with London spot gold hovering around $4,100 per ounce as of July 10, 36Kr reported. The report said markets are increasingly split over the U.S. Federal Reserve's future rate-hike path, while renewed uncertainty in the Middle East has intensified two-way trading in gold.

Industry sources cited by the report said near-term price moves are likely to be driven by Fed policy expectations and Middle East developments, while longer-term support could come from continued gold buying by global central banks and rising global economic uncertainty.