Gold Edges Down as Uncertainty Surrounds Iran Talks
Gold is hovering near $4,800 per ounce, and its next move is being shaped by a mix of geopolitics and central bank expectations, among other factors. After gaining roughly 2% last week, prices softened slightly in early trading on Wednesday in Asia. That rebound was largely driven by easing tensions around the Strait of Hormuz, which reduced immediate inflation fears and revived expectations that the Federal Reserve could move toward rate cuts. A weaker U.S. dollar has also supported gold, with the DXY index slipping over the past week. Even with this recovery, gold is still about 9% below its late-February pre-conflict levels. This underperformance stands in contrast to equities, with the S&P 500 already trading above where…