BlockBeats News, April 6th, Sky Links Capital CEO Daniel Takieddine stated that as the market’s expectations for a Fed rate cut diminish, the upside potential for gold may be limited. Strong U.S. labor data supporting Treasury yields has put pressure on gold. Ongoing diplomatic efforts have bolstered market expectations for a potential resolution to the Middle East conflict, further adding to the uncertainty surrounding the gold outlook.
However, geopolitical risks outside the Middle East and continued central bank gold purchases continue to support the gold price. He pointed out that the short-term trajectory of gold will depend on upcoming U.S. economic data, Fed policy signals, and the development of geopolitical situations. (FX678)
