Analysts: A stronger dollar may continue to weigh on gold prices.

In a report, Phillip Nova analyst Priyanka Sachdeva stated that a stronger dollar is likely to continue putting pressure on gold prices. Despite the escalating conflict in the Middle East, the unexpectedly sharp rise in the dollar may have prompted some investors to take profits on gold. Rising energy prices have reignited inflation concerns, while market expectations for fewer rate cuts by the Federal Reserve this year are also strengthening. She added that investors should consider factors such as the dollar's performance, the pace of central bank gold purchases, and whether the conflict in Iran will escalate further when allocating gold. (Golden Ten)