Central banks worldwide are actively accumulating gold to diversify reserves and reduce dependency on the US dollar. China, in particular, has been on a gold-buying spree for the 17th consecutive month, aiming to hedge against currency depreciation and geopolitical risks.
Indian equity markets decline amid unconfirmed reports of explosions in Iran, Iraq, and Syria, impacting stocks globally. Asian markets see significant losses. US Fed rate cut likelihood diminishes. Oil prices surge due to Middle East tensions. Gold prices rally despite strong US economic data.