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Today’s markets analysis on behalf of Konstantinos Chrysikos, Head of Customer Relationship Management at Kudotrade
Gold prices pulled back on Monday after approaching their all-time high, as traders take profits, though the broader bullish narrative remains intact. The precious metal could continue to find support in geopolitical risks.
Tensions in the Middle East remained elevated over the weekend, as Israel and Iran exchanged strikes. Continued risks of escalation could reinforce demand for safe-haven assets. In Eastern Europe, tensions also remain, contributing further to global risk aversion.
On the monetary front, attention now turns to the upcoming Federal Reserve policy meeting. While the Fed is widely expected to keep rates steady, last week’s softer-than-expected inflation data strengthened market conviction that rate cuts could begin as early as September. This outlook could weigh on Treasury yields and benefit non-yielding assets like gold.
Meanwhile, uncertainty surrounding US trade policy also lingers. President Trump is expected to finalise new tariff measures in the coming weeks, and any escalation in trade tensions could further bolster bullion demand.
Zaid Barem / ymm
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