According to CoinWorld news, on June 20 (UTC+8), gold is heading towards 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 warnings have cooled interest rate cut expectations. Gold prices fluctuated little on Friday, down nearly 2% for the week. A spokesperson for US President Trump stated that a decision on whether to participate in Israel's attack on Iran will be made within two weeks, alleviating concerns over a regional full-scale war threatening energy supplies and increasing inflation. Before the easing of tensions, Federal Reserve Chairman Powell had warned about the inflation risks brought by tariff policies. This may increase the difficulty for the Federal Reserve to cut interest rates, posing a bearish outlook for gold. Although gold prices have still risen about 30% this year and are not far from the historical high of $3,500 set in April, there are already signs this week that, given the high gold prices, investors are turning to silver and platinum as safe-haven options. Wall Street banks have differing views on whether gold can maintain its record rally. Goldman Sachs reiterated its $4,000 forecast for next year, while Citigroup expects gold prices to fall below $3,000 by 2026.
