Daily Market Report
➢ Gold (XAU/USD) fell to a three-week low below $4,403 during early European trading, driven by profit-taking.
➢ The decline followed news that Kevin Warsh is expected to be nominated as the next Fed Chair, easing concerns over US central bank independence.
➢ Signs of political stability in the US reduced safe-haven demand after gold hit record highs last week.
➢ Geopolitical risks, especially US–Iran tensions, continue to support gold and may limit further downside.
➢ Central bank gold buying remains strong and provides longer- term upside support for prices.
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