Gold continues to rise as a safe haven asset, hovering around $3400. Earlier this week, spot gold touched $3452 but retreated to $3383$ amid moderate tensions in the Middle East. The new surge in inflation in May, along with the Fed's pause on interest rates, reinforces its appeal. Central banks are also increasing their gold reserves, and 95% of reserve managers plan to buy more in the next 12 months. Technical indicators remain bullish until support at $3300 is broken; if geopolitical pressures return, there seems to be room for a rise to $3500.
