Daily Market Report
➢ Gold Spikes Then Drops: Gold surged to an 8-week high of $3,452 amid Israel-Iran tensions
but fell below $3,400, trading at $3,383 during the North American session.
➢ Iran’s Diplomatic Shift: Iran signaled readiness to resume nuclear talks, reducing safe-
haven demand for Gold; though some Iranian officials denied the report.
➢ Middle East Tensions Remain: Despite Gold’s drop, geopolitical risks from escalating
Israel-Iran conflict and stalled Russia-Ukraine talks are expected to keep prices supported.
➢ Central Bank Outlook: Continued Gold buying from the PBoC and other central banks is
likely, helping provide long-term price support.
➢ Fed’s Dovish Signals: US inflation data may prompt the Federal Reserve to ease policy,
which would favor non-yielding assets like Gold.
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