Gold experienced a decline in Asian trading on Thursday amidst a hawkish Federal Reserve stance and a stronger U S dollar. Meanwhile, platinum soared to a decade high due to tightening supply and increased demand.

• Gold Performance: Spot gold dipped 0.5 to settle at 3 353 92 oz, whereas gold futures for August fell 1 1 to 3 369 77 oz as of 06 00 GMT.

Geopolitical Factors vs. Central Bank Decisions

Concerns regarding potential U S military action against Iran have provided some support for safe-haven assets. Recent reports reveal that U S officials may prepare for possible strikes against Iran in light of escalating regional tensions.

Despite the supportive backdrop, the Fed’s decision to maintain interest rates has applied downward pressure on gold’s appeal amid a strong dollar environment.

Platinum’s Record Surge

While gold faced challenges, platinum futures briefly surged to 1 313 0 oz, marking the highest price since September 2014. Factors fueling this increase include:

• High Demand: Anticipation of demand from Chinese jewelers and industrial sectors is driving prices.

• Supply Constraints: Low inventories coupled with high lease rates enhance platinum’s value proposition.

Platinum is gaining status as an alternative safe haven amidst gold’s volatility.

Monitoring Commodity Trends

As central bank policies evolve alongside geopolitical dynamics, commodities will continue to serve as focal points for global investors. Pay attention to the interplay of supply, demand, and economic signals, which can influence asset pricing.