Kieran Tompkins: Risk appetite affects gold prices, putting pressure on gold prices in the future

Kieran Tompkins, an analyst at Capital Economics, stated that the deteriorating risk appetite for AI related assets in the market has affected gold, which is increasingly behaving like a risky asset. In the fourth quarter of last year, prices fluctuated sharply due to extreme speculative behavior and performed poorly during the US Iran conflict. As speculative enthusiasm cools down and the stock market weakens, gold prices will come under pressure. Currently, the correlation between gold and the S&P 500 index has reached its highest level in about 14 years.