#MarketRebound
Global gold prices posted their first weekly loss in over a month, weighed down by the rapid rise of the US dollar and the Federal Reserve's revised interest rate forecasts. Despite its safe-haven status, the precious metal fell 3.7% over the week as investors turned to gold assets for liquidity amid the stock market collapse.
Tehran's missile strikes on Bahraini oil refineries and the effective closure of the Strait of Hormuz led to the largest weekly rise in oil prices since 2022.
This forced traders to revise expectations for US monetary easing, automatically making the dollar more attractive than gold. Further pressure was added by news of central banks, particularly Poland, potentially selling some of their gold reserves to finance $13 billion in defense spending.
Current Quotes and Market Expectations
As of Friday morning, the spot price of gold stabilized at $5,090.32 per ounce, posting a slight rebound after Thursday's deep decline.
Meanwhile, silver, platinum, and palladium also showed moderate gains in early Singapore trading. Analysts note that the market remains highly volatile due to the unpredictability of the Trump administration. #GOLD #PAXG
