"Gold has entered a corrective phase after reaching a peak near 4,900 USD/oz, pulling back toward the 4,700 area, characterized by controlled losses and weak rebounds."
"Rising U.S. Treasury yields have climbed back to the 4.3-4.4% range, increasing the opportunity cost of holding non-yielding assets like gold and triggering portfolio rebalancing."
"Geopolitical risks, particularly tensions between the U.S. and Iran, continue to support safe-haven demand for gold, while rising oil prices act as a headwind."
"Upcoming U.S. economic data releases, such as GDP and PCE, are likely to act as key catalysts for the next directional move in gold prices."
Gold has recently declined from a peak near 4,900 USD/oz to around 4,700 USD/oz, characterized by controlled losses rather than panic selling. This decline follows profit-taking after three weeks of gains. Rising U.S. Treasury yields have increased the opportunity cost of holding gold, leading to portfolio rebalancing among institutional investors. Geopolitical tensions support safe-haven demand, while rising oil prices and inflation expectations create headwinds for gold. Upcoming U.S. economic data could influence future price movements significantly.
Read at London Business News | Londonlovesbusiness.com
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