Mitsubishi UFJ: Gold futures are expected to achieve weekly gains

According to Odaily, gold futures are expected to achieve a weekly increase as optimism over potential talks between the US and Iran, as well as a ceasefire agreement between Israel and Lebanon, is putting downward pressure on oil prices and boosting overall market sentiment. Mitsubishi UFJ stated: "Lower oil prices have eased concerns about inflation." However, despite gold having recovered some of its previous losses, it remains about 9% lower than its level at the start of the conflict. Ongoing risks to energy supply and damaged infrastructure may keep inflation uncertainty elevated. (Golden Ten Data)