Article details
TD Securities' senior commodity strategist Daniel Ghali has noted unexpectedly weak gold demand since the outbreak of the war, with over-the-counter (OTC) interest declining after the first trading session and volumes mirroring a typical summer lull. Despite gold's traditional role as a safe-haven asset during geopolitical tensions, the market has shown muted reactions, suggesting investors may be prioritizing other assets or reassessing risk perceptions. The lack of sustained buying pressure raises questions about gold's appeal in current market conditions, where central bank policies and inflation expectations also play critical roles. Traders should monitor upcoming central bank meetings and inflation data for clues on gold's potential trajectory, as well as shifts in geopolitical risk appetite.
