🔴 GC=F is trading 2.9% down today on hawkish Fed commentary and easing geopolitical risks

GC=F is trading 2.9% down at $4542.90 following hawkish commentary from Fed Chair Kevin Warsh and persistent inflation data.

• The move marks a sharp pullback from recent highs, following a smaller 0.4% decline on May 14.
• Safe-haven demand is softening as Middle East tensions show tentative signs of improvement, reducing the premium on bullion.
• Broader equity futures are also trending lower, suggesting a macro-driven risk-off sentiment across multiple asset classes.