$Gold - main 2606(GCmain)$Gold prices were under pressure last week, falling 0.69% to close at $4,506.82 per ounce on Friday (May 22), as the market was weighed down by inflation concerns stemming from high oil prices. However, on Monday (May 25) in early Asian trading, gold prices suddenly opened higher and surged, rising as much as 1.59% to around $4,578 per ounce, demonstrating strong rebound momentum.
Behind this dramatic turn of events is the dual driving force of a rapid easing of geopolitical tensions in the Middle East and a weakening US dollar. Subtle changes in policy signals within the Federal Reserve have also added more uncertainty and room for imagination to the gold price movement.
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