Analyst: Strong US Dollar May Continue to Suppress Gold Price Trends

Odaily News: Phillip Nova analyst Priyanka Sachdeva stated in a report that the strong US dollar may continue to put pressure on gold prices. Despite the expanding conflict in the Middle East, the unexpected significant rise in the US dollar could prompt some investors to take profits on gold. As energy prices rise, inflation concerns are reigniting, while market expectations for fewer Fed rate cuts this year are also strengthening. She added that when allocating gold, investors should consider factors such as the trend of the US dollar, the pace of central bank gold purchases, and whether the Iran conflict escalates further. (Jin10)