Institution: Gold may continue to fluctuate in the short term.

Phillip Nova's Priyanka Sachdeva stated in a commentary that the price of gold may remain volatile in the short term. She said that geopolitical tensions typically support safe-haven demand, but the current high energy prices and strength of the US dollar are limiting the upside potential for gold. She said, "Until the geopolitical direction becomes clearer, the price of gold may continue to be driven by news and fluctuate, with any diplomatic statements possibly causing a sharp reversal in gold prices."