Analyst: If U.S.-Iran tensions ease, it could trigger a larger-scale profit-taking in the gold market.
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Analyst: If U.S.-Iran tensions ease, it could trigger a larger-scale profit-taking in the gold market.
According to JIN10 Data, EFG International—the asset management arm of UBS Group—believes several factors could trigger further corrections in gold prices. GianLuigi Mandruzzato, Senior Economist at EFG, pointed out that the sharp volatility observed in gold on January 29—when it briefly touched $5,600 per ounce in European markets—highlights an increasing risk of correction. He noted that while currently unlikely, any easing in the Iran situation could prompt investors to reassess their gold positions. Additionally, Mandruzzato added that the appointment of a new Federal Reserve Chair—viewed as independent from Trump and credible on inflation issues—could bolster investor confidence in dollar-denominated assets, thereby reducing demand for safe-haven assets.
Navigating Web3 tides with focused insightsTechFlow News: On February 5, according to JIN10 Data, EFG International—the asset management arm of UBS Group—identified multiple factors that could trigger further gold price corrections. GianLuigi Mandruzzato, Senior Economist at EFG, noted that the sharp volatility observed in gold prices on January 29—when gold briefly touched $5,600 per ounce in European markets—highlights growing correction risks. He stated that while currently unlikely, any easing of tensions concerning Iran could prompt investors to reassess their gold positions. Additionally, Mandruzzato added that the appointment of a new Federal Reserve Chair—perceived as independent from Trump and credible on inflation issues—could bolster investor confidence in U.S. dollar-denominated assets, thereby reducing demand for safe-haven assets.
