Market dynamics for precious metals shifted sharply this Tuesday as gold pulled back from a three-week peak. The correction follows a significant surge that saw gold futures touch a monthly high near **$5,250** per ounce. A strengthening U.S. dollar, currently holding a steady position at an index of **97.8**, is exerting downward pressure on greenback-priced bullion. This currency strength has temporarily offset the momentum from Monday’s **2.3%** rally. Trade policy remains the primary catalyst for volatility. Following a Supreme Court ruling that struck down previous trade measures, a new **15%** global surcharge has been introduced. This shift has triggered immediate friction, including the European Union's proposal to halt trade deal ratifications and India's decision to postpone interim negotiations. Geopolitical risks are providing a firm floor for prices despite the dollar's strength. Investors are closely monitoring Geneva, where U.S. and Iran nuclear talks are reaching a critical impasse. Military buildup in the Middle East continues to drive safe-haven inflows as a hedge against regional instability. Silver and PGMs are following the broader trend of consolidation. Silver is trading near **$87.80** per ounce, down roughly **0.3%**. Platinum has retreated to **$2,146**, while Palladium is holding near **$1,715**. Both industrial metals remain sensitive to supply risks, particularly with new **132%** anti-dumping duties on certain imports affecting the automotive catalyst sector. Market participants are now pivoting toward high-impact economic indicators. Key data points include the U.S. Producer Price Index, where a **0.3%** rise is anticipated. Hotter-than-expected inflation figures could further bolster the dollar and weigh on metals. In Europe, the focus remains on the French economy, where annual inflation has cooled to **0.9%**. This divergence in global economic health is keeping the 10-year Treasury yield steady at **4.07%**, maintaining a complex environment for non-yielding assets. The return of Chinese buyers following recent holidays has provided additional liquidity. Institutional demand remains robust, with precious metal ETFs attracting over **$5.2 billion** in recent inflows. Analysts suggest that while the immediate peak has passed, the underlying fundamental drivers for safe-haven assets remain firmly intact.