[Next Week's Macro Outlook: Uncertainty Remains in U.S.-Iran Ceasefire, PCE and Fed Officials Set to Take the Stage, Gold's Troubles Not Over Yet] This week, the market's main narrative oscillated between easing geopolitical risks and the Federal Reserve's hawkish pivot, with optimism failing to fully carry through. Gold has been one of the most pressured assets this week. Influenced by a stronger dollar, rising real yields on U.S. Treasury bonds, and hawkish signals from the Federal Reserve, spot gold continued its correction, marking its third consecutive week of decline.