Gold surges on safe-haven flows amid US-Iran war
Despite the gap in price on the market open after the conflict with Iran, the market is showing the chance for a trading zone as long as prices remain below the 5380-5422 resistance. As we see over the chart, support is at 5249 which could push for another advance.
The reason is clear: confirmed US and Israeli strikes on targets in Iran, including reports of the death of Supreme Leader Ali Khamenei, have triggered renewed demand for safe-haven assets, pushing gold prices higher.
Gold has been one of the most consequential trades of the current geopolitical cycle, and the case for a continued structural advance has never been more compelling.
Gold: Geopolitics reinforces safe haven bid – ING
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
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
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