Gold prices weakened amid easing geopolitical tensions after President Donald Trump announced a total ceasefire between Israel and Iran. Spot gold fell around 0.6% to $3,351.79 per ounce, as the market began to release safe haven assets and return to hunting for risky instruments. The tensions that previously drove the surge in precious metal prices are now considered to have decreased significantly, reducing demand for gold.
From a technical perspective, gold prices are showing short-term correction signals after failing to stay above the psychological resistance level of $3,370. Investors are now shifting their focus to US inflation data and interest rate policy signals from the Fed in July. If geopolitical pressures do not increase again, the potential for a decline in gold prices is still open, although the weakening US dollar could provide a medium-term lower limit (support). (ayu)
Source: Newsmaker.id
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