Gold prices rose during the U.S. trading session, but analysts say the uncertain outlook of Middle East tensions may continue to support the dollar, keeping gold prices under pressure.

BlockBeats News, May 5 — The market is focusing on the fragile ceasefire situation between the U.S. and Iran, as well as the impact of rising energy prices on inflation and interest rates, with gold prices rising during the U.S. trading session.

Analyst Fawad Razaqzada stated: “Unless we see substantial progress toward stability in the Gulf region, high oil prices could continue to support short-term U.S. yields, thereby supporting the dollar. This combination is unfavorable for gold’s short-term outlook.” (Jin10)

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