Pakistan Gold price today: Gold rises, according to FXStreet data
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Gold edges higher amid subdued USD demand; hawkish Fed and US-Iran tensions to cap gains
The 4-hour chart of XAU/USD indicates that the price surpassed $4,080, $4,120, and the 50% Fibonacci retracement level of the downward move from the $4,382 swing high to the $3,941 swing low. It even cleared the 100 Simple Moving Average (red, 4 hours) but stayed below the 200 Simple Moving Average (green, 4 hours).
Gold edges lower to near $4,100 on renewed US–Iran tensions
Gold may be nearing a major bullish breakout as cycle signals point to a possible bottom and a long-term move toward $7,000+.
Gold is attempting to confirm a corrective low as it reclaims short-term trend indicators, but major resistance levels will determine whether the recovery can continue.
Gold stalls below $4,200 as inflation fears rise
The strong rally in the oil markets put pressure on gold and silver.
Gold is attempting to stabilize after a nearly 30% decline from the record high, with XAU/USD rebounding from fresh yearly lows on building momentum divergence. The recovery has brought price back above a key pivot zone, but buyers still need to prove they can defend support and extend the rebound into a broader recovery.
The gold market is drifting around at the moment, as we are looking to figure out whether the uptrend can continue.