German Commercial Bank: Limited Upside Potential in Gold, as War Prospects Remain Unclear.

The price of gold rebounded due to optimistic sentiment surrounding the US-Iran talks, but its further increase may still be limited until the direction of geopolitical developments becomes clearer. Analysts at Deutsche Bank said, "Gold prices have also rebounded as the prospect of war ending eases concerns about central banks having to adopt more restrictive monetary policies to address higher inflation risks, thereby increasing the opportunity cost of holding gold. However, as long as uncertainty remains high, the potential momentum for a recovery in the gold market may be exhausted for the time being." In after-hours trading in Europe, New York gold futures held steady at $4,806.30 per ounce, with the possibility of recording a weekly increase.