BlockBeats message, April 6, Sky Links Capital CEO Daniel Takieddine said that as market expectations for Fed rate cuts weaken, the upside potential for gold may be limited. Strong U.S. labor market data supports Treasury yields, putting pressure on gold. Ongoing diplomatic efforts have supported market expectations that the Middle East conflict may be resolved, which also further increases uncertainty about gold’s outlook.
However, geopolitical risks outside the Middle East and continued gold purchases by central banks across countries are still providing support for gold prices. He noted that gold’s near-term trend will depend on upcoming U.S. economic data, signals from Fed policy, and developments in the geopolitical situation. (Jin10)
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