• Inflation set to rise on the back of the energy shock

• The dollar - which many traders have bought - is falling

• Iran ceasefire is holding and peace talks planned

• Stocks are pushing record highs - risk appetite robust

• Bets on gold rising are the smallest since March 2024

• Inflation, weaker USD and robust risk appetite support gold

• Next target for the bull trend are $5617/oz and $6087/oz

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Gold and betting


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)