Gold prices have risen as a pause in the conflict between the United States and Iran creates a temporary sense of calm in the markets. This geopolitical development reinforces gold’s appeal as a traditional safe-haven asset. Market participants are also closely watching the upcoming Federal Reserve decision, which could influence gold’s trajectory depending on the central bank’s monetary policy outlook. Market indicators suggest this geopolitical reprieve could support upward movement in gold prices in the coming weeks. However, the probability of gold reaching $4,600 by the end of July remains very low, estimated at just 0.2%.
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