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Gold falls to a three-week low: higher interest rates and a surge in oil slow the safe-haven asset’s rally.
No interest rate cuts are on the horizon; on the contrary, a 25 basis point increase in June is becoming increasingly likely. Uncertainty over the Middle East conflict remains high after Trump expressed dissatisfaction with Iran’s proposal: the war is not over, and prospects for a near-term resolution are fading. Gold drops 1.39% to $4,611.8 per ounce.
Gold remains steady awaiting US–Iran talks
The safe-haven asset starts the week with little change, with prices largely stable as markets await news on US–Iran negotiations, currently at a standstill. June futures slipped 0.3% to $4,725.50, while spot prices hover around $4,715 per ounce.
[Source: Market screener]
Gold near $4,700 per ounce: analysts see signs of stabilization
After a surge of nearly 40% at the start of the year, gold is pulling back, while still remaining above the $4,700 per ounce resistance level. But experts reassure that this dip is a normal correction following such a rapid and significant price increase — a pullback was, according to analysts, simply inevitable.
[Source: Trading view]
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