This morning, US President Donald Trump announced that negotiations with Iran will take place in Oman this Friday. This news has injected additional optimism among investors about the prospect of peace being rebuilt in the Middle East.
Gold prices immediately came under selling pressure, dropping from 5,000 USD/ounce to 4,800 USD/ounce within the morning session.
U.S. economic data released last night also showed a slight improvement compared to the previous period, indicating that optimism is gradually returning to the market. As a result, safe-haven demand is likely to cool temporarily, helping to narrow gold’s price volatility in the near term.
In the long term, the safe-haven trend remains intact, so the primary strategy continues to be looking for BUY opportunities when gold prices pull back.
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