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2026-04-09 11:12:04
[Geopolitical tensions and inflation intertwine; gold trades sideways, awaiting guidance from US-Iran negotiations and data] 1. Spot gold was largely unchanged in Asian trading on Thursday, hovering around $4,715 per ounce. Investors remained cautious, awaiting clear signals from the US-Iran ceasefire negotiations and key US inflation data to be released later that day. 2. Israel launched its most intense airstrike to date on Lebanon on Wednesday, killing hundreds and triggering threats of retaliation from Iran. Iran suggested that continuing negotiations with the US under these circumstances was "unreasonable," highlighting the continued instability in the region. Spot gold has fallen more than 10% since the start of the war on February 28. 3. Minutes from the Federal Reserve's March meeting showed that a growing number of policymakers believe interest rate hikes may be necessary to address persistently high inflation above the 2% target, especially given the inflationary pressures from the Iran war. Investors are awaiting today's release of February's PCE and initial jobless claims data. 4. Standard Chartered Bank stated that, aside from short-term liquidity needs, it expects gold to continue its upward trend in the coming months as geopolitical risks intensify.
