Mitsubishi UFJ: Gold Futures Expected to Rise Weekly
Gold futures are expected to record another week of gains, as optimism over potential talks between the U.S. and Iran, along with a ceasefire between Israel and Lebanon, has pressured oil prices and boosted overall market sentiment. Soojin Kim from Mitsubishi UFJ (MUFG) stated, "The softening of oil prices has alleviated inflation concerns." However, despite gold recovering some of its earlier losses, prices remain about 9% lower than levels at the onset of the conflict; ongoing risks to energy supply and damaged infrastructure may keep inflation uncertainty elevated. In early European trading, New York gold futures were flat at $4,807.30 per ounce.
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