Gold has surged above $4,610/oz, driven by softer U.S. economic data and a clear shift toward risk-off sentiment. Cooling core inflation is reshaping interest-rate expectations, with markets now pricing 2–3 Federal Reserve rate cuts this year. This environment is supportive for non-yielding assets, making gold increasingly attractive.
At the same time, geopolitical and political uncertainties are reinforcing demand for safe-haven assets. Investors are prioritizing capital preservation, and gold remains a primary beneficiary of this shift.
As long as expectations for rate cuts remain intact, any short-term pullbacks in gold are likely to be viewed as buying opportunities, keeping the broader bullish trend intact.
