Phillip Nova: Gold may continue to fluctuate in the short term, with geopolitical news driving the market.
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- Phillip Nova analyst Priyanka Sachdeva stated in a commentary that gold prices may remain volatile in the short term. Geopolitical tensions usually support safe-haven demand, but the current environment of high energy prices and a stronger US dollar is limiting the upward momentum of gold.
- She noted that until the geopolitical situation becomes clearer, gold prices may continue to fluctuate, driven by news events, and any diplomatic statement could potentially trigger a sharp reversal in gold prices.
- Currently, the ongoing tensions between the US and Iran, news such as Trump postponing the power grid strike plan, and Iran denying negotiations have already caused significant gold price swings.
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