Analyst: A strengthening dollar may continue to suppress gold prices

Odaily Planet Daily reports that analyst Priyanka Sachdeva from Phillip Nova stated that a strengthening dollar may continue to pressure gold prices. Despite the ongoing escalation of conflicts in the Middle East, the unexpected sharp rise in the dollar could prompt some investors to take profits in gold. As energy prices increase, inflation concerns are reigniting, and market expectations for fewer rate cuts by the Federal Reserve this year are also strengthening. She added that investors should consider factors such as the dollar trend, the pace of central bank gold purchases in various countries, and whether the Iran conflict will escalate further when allocating assets in gold. (Jin10)