Gold set for worst month in more than 17 years as US rate-cut hopes fade

AI Analysis

Global interest rate expectations and energy prices are key drivers for gold. A strong dollar also weighs on gold.

Short gold-related equities or consider hedging physical gold exposure.

Quick check: MARUTI bearish bias (-1.3% 1d), TATAMOTORS bearish bias (-1.4% 1d).

•Gold prices saw a slight uptick on Tuesday, but are on track for its worst monthly performance in over 17 years.
•Soaring energy prices have dampened expectations for a U.S. interest rate cut this year.
•This impacts gold's trajectory.
•Risk flag: Unexpected shift in US Fed policy
•Risk flag: De-escalation of geopolitical tensions

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