•Despite escalating Iran tensions, gold prices are not showing the expected rally, trading in a limited range after an initial brief surge and subsequent decline.
•A strong dollar, rising US Treasury bond yields, and high oil prices are key factors diverting investors from non-interest-bearing gold.
•Market 'fatigue' after recent gains, increased volatility, and initial panic selling for liquidity also contribute to gold's sluggish movement.
•Major banks like JPMorgan forecast gold to reach $6,300 by 2026, while Deutsche Bank expects $6,000 by year-end, indicating long-term confidence.
