Daily Market Report
➢ Gold steadies near $3,632 during the Asian session on Friday, stalling a two-day corrective slide
from its record high.
➢ Safe-haven demand revives as geopolitical tensions intensify, including the Russia-Ukraine war
and Middle East conflicts.
➢ US Dollar recovery limits upside for gold, with the DXY strengthening after Fed Chair Powell’s
hawkish remarks.
➢ Powell signals cautious easing, noting inflation risks remain to the upside despite the Fed’s first
rate cut since Dec 2024.
➢ Equity market optimism further caps gold’s gains, as risk sentiment draws some flows away from
the precious metal.
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