Gold continues to trade sideways and may encounter volatility influenced by fluctuations in safe-haven demand, shaped by US trade policy developments, central bank independence, and ongoing geopolitical risks. Tensions surround arms shipments to Ukraine and increasing sectarian clashes in the Middle East, contributing to regional instability. President Trump's notification to over 150 countries about tariff schedules has reignited trade uncertainties, driving interest in defensive assets like gold. At the same time, robust US economic data lessens the likelihood of imminent rate cuts, which may put pressure on gold prices.
Gold remains under pressure due to strong US macroeconomic data, reducing expectations for imminent rate cuts, while geopolitical tensions sustain demand for defensive assets.
Geopolitical tensions, particularly the US's arms shipments to Ukraine and instability in the Middle East, further amplify demand for gold as a safe-haven asset.
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