According to BlockBeats, on May 5th, gold prices rose during the US trading session as the market focused on the fragile US-Iran ceasefire and the impact of rising energy prices on inflation and interest rates.
Analyst Fawad Razakzada stated, "Unless we see substantial progress towards stability in the Gulf region, high oil prices are likely to continue supporting short-term US yields, which in turn supports the dollar. This combination is unfavorable for the short-term outlook for gold." (Jinshi)
