Gold Slips as Investor Fears Ease
Investors appear satisfied with the notion of a ceasefire between Israel and Iran, allowing them to move away from gold. 'With multiple signals in the energy market flashing 'crisis over,' and the S&P 500 posting big gains in the face of an easing of tensions, safe haven flows are fleeing gold for more lucrative opportunities,' says Robert Yawger of Mizuho Securities USA.
Yawger forecasts a subdued gold market in the coming sessions, although other risk factors lie ahead that may reinvigorate interest in gold. 'I don't see a scenario where gold thrives until Trump's tariff deadline runs out in two weeks and suddenly becomes front and center again,' he says. Front-month gold settles down 1.8% to $3,317.40 a troy ounce.
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