Geopolitical Tensions and High Rates May Pressure Gold in Near Term, Says Pepperstone Strategist

According to Jin10, Pepperstone research strategist Ahmed Al-Aseeri said on July 10 that gold may face near-term pressure from both geopolitical tensions and elevated interest rates. Rising U.S.-Iran tensions have undermined market confidence and weakened gold's recent rebound momentum, as investors remain reluctant to build large long positions amid persistent high U.S. Treasury yields and uncertainty over Federal Reserve policy direction.

Al-Aseeri noted that renewed tensions have driven energy prices higher, potentially delaying the global disinflation process. However, the strategist maintained a constructive mid-term outlook for gold relative to the sharp selling pressure seen in recent weeks.