Market Analysis: As the Middle East conflict continues, gold rises due to possible buying at lows.

During the ongoing Middle East conflict, gold rose due to possible buying on dips. Spot gold rose by 0.7% to $5,125.72 per ounce. Near-month gold futures fell by 3.5% overnight due to a strengthening dollar and concerns about conflict-induced oil price hikes leading to higher inflation. Abdelaziz Albogdady, market research and financial technology strategy manager at FXEM, said in an email, "The market is reassessing the Fed's easing pace, and expectations of multiple rate cuts are becoming less certain." He added that this recalibration may limit gold's short-term gains, but as long as geopolitical uncertainties persist, the overall trend remains upward.