Analysis: Prospects of US-Iran Negotiations Remain Uncertain, Gold's Upside May Be Limited

According to Odaily, as optimism surrounding US-Iran negotiations grows, the price of gold has rebounded. However, further gains may be limited until the geopolitical situation becomes clearer. Analysts from Commerzbank stated: "Gold prices have also rebounded on hopes of an end to the war, as this alleviates concerns that central banks will have to respond to higher inflation risks with tighter monetary policies, thereby increasing the opportunity cost of holding gold. However, as long as uncertainty remains high, the potential recovery in the gold market may be temporarily exhausted." (Jin10)