Gold continues to find buyers on dips during the session on Thursday, as traders continue to worry about the war, and the next steps going forward.
Gold trades sideways as traders weigh geopolitics and Fed outlook
Gold met the target zone of 5117-40. As we see over the chart, the market could have the chance for a trading zone between support 5117 and resistance 5175.
Gold prices fell below 5,150 USD per ounce on Thursday, marking a second consecutive session of decline. Pressure on the market has intensified amid a sharp rise in oil prices, which heightens inflation risks and reduces the likelihood of imminent interest rate cuts by central banks.
Gold hangs near $5,150 as Persian Gulf tensions collide with Fed rate hike fears. Will an oil price shock drive XAUUSD to new highs?
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
Gold weakens as inflation concerns lift US bond yields and USD; downside remains cushioned
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data