Institutions: Middle East Conflict Outlook Uncertain, Gold Price Under Pressure

Odaily News Gold prices edged lower in early trading but remained stable around $5,200 per ounce as investors continued to digest mixed signals regarding the Middle East conflict. In the previous trading session, gold closed higher, supported by a weaker US dollar and a retreat in oil prices which alleviated inflation concerns. Analysts from ANZ stated: "However, ongoing developments continue to cloud the outlook for US interest rate cuts. This has led to sustained investor withdrawals from gold ETFs." Traders are now awaiting the release of US inflation data tonight for further clues on the interest rate outlook. (Jin10)