Odaily Planet Daily report: Gold prices have declined, on track for their largest monthly drop since October 2008; quarterly, gold is also set for its first quarterly decline since 2024, and the largest drop since the second quarter of 2013. Although the situation in the Middle East remains uncertain, the market is now more focused on how far the U.S. will go to control inflation.
Marex analyst Edward Meir stated that the combination of high inflation, elevated interest rate expectations, and a strong U.S. dollar has suppressed all the usual factors that typically support gold price increases. Christopher Wong, precious metals strategist at OCBC, noted that gold bulls need to see at least one turning point—a decline in real yields, a weaker dollar, or a clear retreat in market expectations for a more hawkish Fed. Until then, any gold price rebound is likely to be short-lived, with prices more probable to remain range-bound below previous highs. (GoldNews)