Gold remained under pressure despite heightened geopolitical uncertainty, suggesting that inflation and interest rate expectations continue to play a larger role in price action.

Markets started the week with a cautious tone as uncertainty around the US-Iran ceasefire limited risk appetite.

The Dollar Index moved back above 99, ending a two-day decline, while investors turned their attention to the upcoming US jobs report.

The final trading sessions of the week brought a noticeable change in market leadership.

Military developments in the Middle East revived concerns over inflation, energy supply risks, and tighter monetary conditions.

Financial markets reacted to developments in the Middle East, with improving prospects for a US-Iran agreement supporting risk sentiment.

Optimism surrounding a potential US-Iran agreement shaped markets at the start of the week.

Japan’s 10-year government bond yield held near 2.78%, remaining close to a three-decade high despite softer inflation data.

Only a few months ago, the main question was how soon the Federal Reserve could begin lowering interest rates.