Marex analyst Edward Meir stated, "After several weeks of strong gains, commodities as a whole retreated due to some profit-taking. Easing tensions in the Middle East also caused gold and other metals, especially silver, to lose some of their geopolitical premium." With the Iranian protests subsiding, US President Trump adopting a wait-and-see approach, and Russian President Putin intervening, geopolitical tensions appear to have eased. Meir said, "I still believe gold prices have a chance to reach $5,000 at some point this year, but this will be accompanied by significant pullbacks." (Jinshi)