Market Update | Oil Prices Hit $120 as Gold Drops 3%: Are Safe Havens Failing? Analysts Call It a Market Correction

Middle East conflict fuels market volatility, pushing oil to near $120/barrel. Gold prices experienced a sharp decline due to a strengthening U.S. dollar, driven by inflation fears and expectations of sustained high interest rates, diminishing gold's appeal as a non-interest-bearing asset. However, veteran analysts remain bullish on gold, viewing the pullback as consolidation within a bull market, supported by supply-side oil shocks increasing stagflation risk and continued central bank demand. Technical indicators and underlying macroeconomic drivers suggest a robust long-term outlook, despite short-term liquidity-driven selling and potential policy shifts dampening demand.▶️ Download our app here:📌 Play Store: ⁠https://play.google.com/store/apps/details?id=com.tradingkey.mobile&hl=en⁠📌 App Store: ⁠https://apps.apple.com/us/app/tradingkey-stock-analysis/id6744304666📢 DISCLAIMERTradingKey provides general information on certain investment products. This information is not intended to constitute financial advice or a recommendation for any specific investment product.