How long can the optimistic mood in negotiations last? The weekly gold chart has turned positive, but it's still a bit away from the high point. Exercise caution and remain cautiously bullish.

ME News reports that optimism about potential US-Iran negotiations and a ceasefire in Lebanon has suppressed oil prices and boosted the market, with gold futures expected to achieve weekly gains. Mitsubishi UFJ states that lower oil prices ease inflation concerns; however, although gold has rebounded, it is still about 9% below the level at the start of the conflict. Energy supply risks and damaged infrastructure may keep inflation uncertainty elevated.