CryptoWorld News reports that analysts say that as tensions in the Middle East ease, gold futures prices are rising. Vivek Dar, from the Commonwealth Bank of Australia, stated in a research report that Trump's announcement to temporarily suspend plans to provide the Strait of Hormuz security corridor has eased tensions. Since the intraday high of $5,422 per ounce hit on March 2, gold futures have generally moved inversely to the level of tension in the Middle East. Dar added that the upward momentum in gold prices may be driven by several factors: hopes for a ceasefire in the Middle East, market pricing in rate cuts due to global growth being dragged down by high energy prices, and concerns over the independence of the Federal Reserve.

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