According to Jin Shi data reports, gold is heading for its first weekly decline in three weeks, as easing tensions in the Middle East have weakened safe-haven demand, while the Federal Reserve's inflation warning has cooled interest rate cut expectations. Gold prices fluctuated little on Friday, with a cumulative decline of nearly 2% this week.
U.S. President Trump's spokesperson stated that a decision on whether to participate in Israel's attack on Iran will be made within two weeks, alleviating concerns about a regional comprehensive war threatening energy supplies and driving up inflation. Before the situation eased, Federal Reserve Chairman Powell had warned of the inflation risks posed by tariff policies.
Although gold prices have still risen by about 30% this year, there are signs this week that investors are shifting towards silver and platinum as safe-haven options. Goldman Sachs reaffirmed its expectation of $4,000 next year, while Citigroup expects gold prices to fall below $3,000 by 2026.