Gold continues to move opposite of rates on Tuesday, as we are still in the same pattern with rates being the opposite of price action in the gold markets. Position sizing is crucial in this market as well.
Gold market outlook improves as oil retreats, yields fall and the dollar stalls. Friday's jobs report could determine the next major move.
Gold: Near-term pressure, longer-term strength – TD Securities
Gold Price Forecast: XAU/USD recovery stalls below $4,540 amid cautious markets
Gold rebounded from the 4450-80 support zone which could initiate a reversal Head-and-Shoulder formation which could push for another rebound towards the 4880 zone. As we see from the chart, prices rebounded from 4450-80 whilst marching towards the resistance neckline of the Head and Shoulders formation around the 4595 zone.
Experts agree: Gold is going nowhere as long as Iran war continues
The ongoing US-Iran ceasefire allowed gold and silver to focus on technical recoveries. Gold defended $4,534 support with bullish continuation while silver surged above $76.55.
Gold: Forecasts revised lower on yields – OCBC
Pakistan Gold price today: Gold rises, according to FXStreet data
Gold retakes $4,500 as Israel–Hezbollah ceasefire caps USD; not out of the woods yet
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data