Mitsubishi UFJ: Gold is expected to record weekly gains boosted by weak oil prices and hopes of US Iran talks According to a report by Golden Finance, gold futures are expected to record another week of gains as optimism over possible talks between the United States and Iran, as well as a ceasefire between Israel and Lebanon, have suppressed oil prices and boosted overall market sentiment. Sojin Kim from Mitsubishi UFJ (MUFG) stated, "Weaker oil prices have eased inflation concerns." However, although gold has regained some of its earlier losses, the price of gold is still about 9% lower than at the beginning of the conflict; ongoing risks to energy supply and infrastructure damage may keep inflation uncertainty high. In early European trading, New York gold futures remained flat at $4807.30 per ounce.