Gold Expected to Trade Rangebound Above $4,100 Through Summer, Says Metals Focus

According to commodity analysts at Metals Focus, gold is expected to remain rangebound above $4,100 an ounce through the summer. Renewed conflict between the United States and Iran is supporting higher energy prices, fueling inflation concerns and reinforcing expectations for tighter U.S. monetary policy. The analysts said growing confidence that the Federal Reserve will raise interest rates at least once more this year is creating significant opportunity-cost headwinds for gold in the near term. However, Metals Focus stressed that the broader bull market for gold remains intact, with prices likely to recover toward the end of the third quarter as markets reassess the U.S. monetary policy outlook.
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