Gold Falls on June 29 as Iran-U.S. Ceasefire Eases Geopolitical Risk Premium

XAU-0.95%
According to Mitsubishi UFJ analyst Soojin Kim, gold prices declined on June 29 as market focus shifted to cooling inflation expectations and prospects for renewed Iran-U.S. peace negotiations. "With geopolitical risk premium continuing to fade and energy-driven inflation expectations improving, gold may face further pressure," Kim said. Earlier, Iran and the U.S. agreed to cease hostile actions following recent military exchanges.
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