• Gold Holds Near Record Levels
  Gold prices remained steady below $5,200 per ounce, after gaining about 1% in the previous session, as traders continue to assess geopolitical risks and macro developments.
• Energy Markets Driving Sentiment
  The International Energy Agency (IEA) is reportedly considering the largest oil reserve release in history, potentially 300–400 million barrels. Despite this possibility, crude oil prices continued to rise.
• Oil Volatility Fuels Inflation Concerns
  Extreme fluctuations in energy prices have increased fears of renewed inflation, which could limit the ability of major central banks to cut interest rates this year.

Dollar Strength Limits Gold’s Upside

• Gold Faces Pressure from a Strong Dollar
  The US Dollar Index remains firm, which has weighed on gold’s upward momentum despite ongoing geopolitical risks.
• Higher Bond Yields Create Headwinds
  Rising yields reduce the attractiveness of non-yielding assets such as gold, limiting the metal’s ability to rally further.
• Gold Still Moves Inversely to the Dollar
  Analysts note that gold continues to closely track the inverse relationship with the US dollar, making currency movements a key driver.

Geopolitical Tensions Remain High

• Conflict Continues to Disrupt Energy Supply
  The war involving Iran has already affected oil production and refining operations across the Middle East.
• Military Escalation Adds Uncertainty
  The Pentagon indicated that the United States and Israel carried out their most intense attacks yet, reinforcing concerns about a prolonged conflict.
• Markets Watching Inflation Data
  Investors are also focused on upcoming US inflation data, which could further shape expectations for Federal Reserve policy.