Gold prices dipped in early trade following a nearly 2% rise in Comex gold
futures overnight, likely due to a technical correction. Carsten Fritsch from
Commerzbank Research attributes the recent gold boost to falling oil prices,
which ease inflation risks and reduce interest-rate expectations. This shift has
led to lower bond yields, benefiting gold as a non-interest-bearing asset.
However, Fritsch notes that gold’s outlook depends on the stability of the
US-Iran ceasefire in the coming weeks.
