Gold prices have risen as geopolitical tensions in the Middle East ease, with ING analysts highlighting the interest rate outlook as the next key driver. The temporary pause in U.S. security escorts through the Strait of Hormuz has alleviated immediate risks, sustaining gold's appeal as a safe-haven asset. Meanwhile, SEI suggests the Federal Reserve is unlikely to raise interest rates due to potential economic harm, while global central banks may focus on price stability. Goldman Sachs reports that global oil inventories are nearing an eight-year low, raising concerns about potential supply shortages. The imbalance in regional distribution could lead to early shortages of refined products, despite overall inventory levels remaining above minimum thresholds. Additionally, ING notes that investors are favoring currencies of countries with central banks willing to combat inflation through interest rate hikes, with the Australian dollar and Norwegian krone performing well among G10 currencies. Domestically, CITIC Securities anticipates a strong seasonal rally in the coal sector, driven by catalysts such as climate factors and energy supply recovery delays. The firm also notes a slight decline in fund allocations to the electronics sector, though AI-related momentum is expected to broaden in Q2 2026. Meanwhile, Galaxy Securities recommends focusing on upstream computing infrastructure amid structural differentiation in the AI sector, while energy and communications services continue to hold relative advantages.