Today’s markets analysis on
Gold held relatively steady on Thursday as investors assessed a fragile ceasefire in the Middle East alongside mixed signals on energy flows. Uncertainty surrounding the reopening of the Strait of Hormuz kept markets cautious, with gold, the US dollar and treasury yields remaining within a range.
Gold could come under pressure if oil prices rebound significantly, as the latter could reinforce concerns about inflationary risks and support the prospect of higher interest rates. This backdrop could reduce gold’s appeal.
Still, elevated tensions in Eastern Europe continue to sustain a geopolitical risk premium, while investment demand remains constructive, and ETFs could see renewed inflows. At the same time, central bank demand could continue to support the asset.
Looking ahead, gold’s direction will hinge on further developments in the Middle East and their impact on oil prices and inflation expectations. Upcoming US economic data will also be closely watched for their influence on the Federal Reserve’s monetary policy path, which remains a key driver for bullion in the near term.
Zaid Barem / ymm
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