¤ Gold remains trapped in a broad USD 3,950–4,200 range as investors weigh the inflationary impact of higher energy prices against the longer-term risks to economic growth.

¤ Softer-than-expected US inflation briefly lifted bullion above USD 4,100 before renewed strength in oil prices and fresh Middle East tensions shifted attention back to inflation and Federal Reserve policy.

¤ Investor liquidation appears to have largely run its course, with ETF holdings stabilising, while continued central bank purchases provide an important layer of underlying support.

¤ Silver and platinum continue to lack conviction as uncertainty over growth and interest rates clouds the outlook for the broader precious metals complex.

¤ Gold remains trapped in a broad USD 3,950–4,200 range as investors weigh the inflationary impact of higher energy prices against the longer-term risks to economic growth.

¤ Investor liquidation appears to have largely run its course, with ETF holdings stabilising, while continued central bank purchases provide an important layer of underlying support.

¤ Silver and platinum continue to lack conviction as uncertainty over growth and interest rates clouds the outlook for the broader precious metals complex.

Gold Holds Firm While Silver and Platinum Waver

Gold Holds Firm While Silver and Platinum Waver