Australia and New Zealand Bank: Inflation and demand concerns are putting pressure on gold.

The fragile ceasefire situation between the US and Iran has cast a shadow over the outlook, causing the price of gold to fall. In early European trading, New York gold futures prices fell by 0.7% to $4697.70 per ounce. Analysts at ANZ Bank pointed out, "The market currently seems to be in a dilemma, on one hand there is anxiety caused by geopolitical tensions, on the other hand there is concern about rising inflation." At the same time, physical gold demand may also face risks, as the Indian Prime Minister has called on citizens to postpone buying gold in the next year to help maintain the country's foreign exchange reserves.