ANZ: Weak market sentiment puts pressure on gold prices

Golden Ten Data reported on June 24 that, amid weak market sentiment, gold prices fell during early Asian trading. ANZ Bank research analysts stated in a research report: "Although gold has long been regarded as a safe-haven asset, it has failed to withstand such a large-scale cross-market sell-off." They noted that since the outbreak of the Middle East conflict at the end of February, gold prices have dropped by more than 22%. They pointed out that the rising expectations of a potential interest rate hike in the United States have also exacerbated the weak market sentiment.